What is the impact of rising egg prices on the economy and consumer behavior?
Rising egg prices (up 219% since 2019 to $4.95 per dozen) have created widespread economic ripple effects. Restaurants are adding surcharges to breakfast items, as demonstrated by Waffle House implementing a 50-cent fee. Consumers are changing their cooking habits, avoiding egg-heavy recipes, and shifting to alternative proteins like ground beef and tofu when possible. These price increases affect numerous sectors as eggs are an ingredient in many foods. As consumers seek substitutes, demand increases for other proteins, potentially raising their prices as well. With the USDA forecasting another 20% increase by year-end, this 'eggflation' continues to shape purchasing decisions and impact food businesses throughout the economy.
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Rising Prices of Eggs Amidst Inflation
CBS News·8 months ago