The most recent bird flu is the reason the egg trade has provided for the most recent egg price increases. The 220% increase in the price of eggs over the past year dwarfs the 49% increase reported by the CPI over approximately the same 12 month period. This is one of a number of examples where real world price increases are far greater than what is reported by CPI – an understated, politically influenced government statistic that does not reflect economic reality. Price inflation is significantly understated and the economy is almost certain to slam into a brick wall in 2023.
The red line in the below chart represents weekly average egg prices in 2022 – approximately $4.80 per dozen as of month-end December 2022 – up from approximately $1.50 in January 2022. That is a 220% increase over 12 months where the CPI measures the 12-month increase at 49%.
The green dotted line represents 2021 and the blue dotted line represents the three-year average.
More detail about the egg market may be found HERE.