While consumer egg prices saw a slight pullback in February, they continue to be significantly up from a year ago, according to the latest consumer price index (CPI) data Tuesday.
In the CPI data, egg prices in February posted a 55% increase in the one-year span from the same month the prior year. That comes even as the cost of eggs had a 6.7% decrease month over month, according to the Labor Department.
Some factors attributed to the high egg prices in the past year include an increase in production-related costs and bird flu.
With prices for eggs being high, the market for plant-based alternatives has seen benefits, with Just Egg and Zero Egg saying they’ve had more activity around their products, FOX Business reported in mid-February.
The cost of food – including at home and away from home – in February saw a 0.4% increase from the prior month. From the same time in 2022, it has seen a 9.5% spike, according to the CPI data.
Consumer inflation, the Labor Department said Tuesday, grew 0.4% month over month and 6% year over year. Both of those rates marked smaller increases than the ones reported in January.
Meanwhile, the Labor Department reported Wednesday that chicken egg prices on the wholesale level saw a plunge of 36.1% last month as the agency released its latest producer price index (PPI) data. The PPI overall showed a drop of 0.1% from January and a rise of 4.6% from February 2022.
Read more of this story from FOX Business.