- New data from the Consumer Price Index indicates that the price of eggs has jumped 70% in one year.
- A dozen eggs now cost more than a pound of ground beef.
- Orange juice prices, meanwhile, are at record highs and have climbed 30% since the start of the year.
The most important meal of the day is getting expensive as prices for orange juice and a carton of eggs in the United States continue to climb.
Overall food costs rose 0.5% month over month in January, according to the Consumer Price Index data published on Tuesday.
The price of eggs has jumped 70% in a year, with high production costs pushing 12 eggs to a record price of $4.82 last month. Prices in January increased by 8.5% compared to the previous month.
The outbreak comes amid a deadly bird flu, with outbreaks last year decimating nearly 53 million birds in the United States, according to the United States Department of Agriculture (USDA) in December.
However, the wholesale price of eggs is dropping every week, but that hasn’t reached grocery stores yet. On the contrary, ground beef prices have fallen to record lows, making a dozen eggs cost more than a pound of ground chuck.
Elsewhere, orange juice prices tapping records, up 30% since the start of the year, as recent hurricanes, frost and plant disease hit production levels. Citrus fruits like oranges and tangerines rose 2.8% in January, according to labor data.
USDA estimates that this year’s orange harvest will fall to its lowest level since the 1930s as the 2022 hurricanes dealt considerable blows to Florida orchards. Lower supply leads to price spikes that US customers may not want to pay for juice.