by Matthew Rusling, Xiong Maoling
WASHINGTON, Feb. 12 (Xinhua) -- U.S. egg shortages continue and prices remain high, with no sign of relief for consumers.
The problem has hit several grocery store chains, amid the largest outbreak of bird flu in 10 years.
Bird flu is pushing farmers to slaughter millions of chickens, and that has caused egg prices in the United States to double since 2023. The Department of Agriculture forecasts egg prices to rise 20 percent this year.
Dean Baker, a senior economist at the Center for Economic and Policy Research, told Xinhua the prices of eggs have "gotten very high. Don't know if they will get higher."
The average price of a dozen large, grade-A eggs was 4.15 dollars in December 2024, up 14 percent from 3.65 dollars in November, official data showed. That's a more than 60 percent increase from the 2.51 dollars a year ago, CBS News reported.
On Friday, average wholesale prices for large, white shell eggs reached 8 dollars a dozen, beating the previous record by a large degree, according to data from Expana, which tracks agricultural commodity prices, CNBC reported.
More than 20 million egg-laying chickens in the United States died last quarter because of bird flu, according to data from the U.S. Department of Agriculture. With bird flu continuing to spread, the egg shortage may not improve soon.
"We can't begin fixing it the next day. It is really a six-to-nine-month process. It's causing some shortages in certain markets that are intermittent and localized," Emily Metz, president and CEO of the American Egg Board, was quoted by CNN as saying in January.
If the problem turns political, it could hurt the current administration, at a time when inflation for food and shelter is sky-high, political observers said. That is because the administration ran on promises to bring down inflation that took hold during the previous one.
High egg prices "are a staple for many people and therefore a very visible cost. Food and energy are a big part of daily life and if prices go up in either area, it will be easy to see," Darrell West, a senior fellow with Brookings Institution, told Xinhua.
When asked whether he foresees any economic impact of the ongoing egg shortage, Baker from the Center for Economic and Policy Research said, "It takes money out of people's pockets, but not enough to have a noticeable impact on the economy." ■
