Egg prices increased 70% over the last year—here's why
Publishing timestamp: 2023-03-03 10:55:21
Summary
Egg prices have increased dramatically over the last year due to supply chain snarls, labor shortages, and an avian flu outbreak that wiped out 50.54 million birds in the US in 2022. To offset inflation, delis have added a 50-cent surcharge to credit card purchases and increased prices on many items in store, including cartons of eggs. Egg producers have also raised the cost of a case of five dozen eggs from $45 to as high as $60 due to increased operational costs, including labor and fuel for transportation, and chicken feed expenses. The avian flu outbreak has subsided somewhat, which has eased prices, but experts say that the virus could resurge in spring when wild birds migrate across the US.
Sentiment: NEUTRAL
Tickers: YUM,
Keywords: united states, warren buffett, new york city, sam miller, yum! brands inc,
Source: https://www.cnbc.com/2023/03/03/egg-prices-increased-70percent-over-the-last-yearheres-why-.html