Price of eggs falling after spiking over the last year

(NewsNation) — The price of eggs is falling after a number of factors, including a deadly avian influenza outbreak and supply chain issues, caused them to go above $4 a dozen earlier this year.

According to the Bureau of Labor Statistics’ latest observation, the average price of large, grade A eggs was $3.27. At their peak, in January 2023, they were $4.82.

That’s more than twice the price they were back in January of last year — in 2022, a dozen eggs was $1.92. Data from research firm NIQ also shows lower average retail prices for a dozen eggs, at $2.70 at the end of April, the Wall Street Journal reported.

Supermarket executives told the news outlet that retail egg prices are set to return to “historic averages” in coming months.

“Prices should all be under $2 a dozen,” Sue Durfee, who oversees eggs, dairy and other items at the New York-based Tops Market, said in the Wall Street Journal. “We plan on trying to promote them once or twice a month.”

Although inflation caused the price of many goods and services to soar, a “perfect bad storm” of issues caused eggs to become particularly pricey.

Rodney Holcomb, an agricultural economics professor at Oklahoma State University, previously said to NewsNation local affiliate WKBN that high energy prices, high feed prices and avian flu resulted in big price fluctuations that hadn’t been seen since 2015.

In the final week of December 2022, for instance, egg inventories were 29% lower than they were at the beginning of the year, according to the U.S. Department of Agriculture.

However, new cases of bird flu have been waning, according to the Wall Street Journal, and flocks are being rebuilt.

USDA estimates show the total egg-laying hen population was up 5% in May, compared to the year before, and 1% higher than it had been in April.