President Trump, when he announced radical prices, beat the “very tired predictions” of criticism from his economic program by citing a sharp drop in the price of eggs.
“The price of eggs has dropped now 59%, and they drop more and availability is fantastic,” Trump said on Wednesday.
The wholesale price of eggs has indeed dropped by more than half since the inauguration of Mr. Trump, but this drastic decline has not yet been reflected in the retail price, which consumers pay for the grocery store.
According to the weekly data press release from the Department of Agriculture, the average of large national has gone from $ 6.55 a dozen on January 24 to $ 3 on March 28, a decrease of 54%. But the agency, in its latest version, noted that it could take up to three weeks for retail prices to catch up wholesale prices and that “consumers are only starting to see the prices of shelves slowly decrease”.
The average price of a dozen eggs in grocery stores was $ 5.90 in February, the month with the latest data available, according to the Bureau of Labor Statistics. It was almost a dollar more than the average in January.
The wholesale prices of eggs remain much higher now than at this stage at the end of March 2024, when the national average was $ 1.70 per dozen.
The Department of Agriculture predicted in its latest food prices that egg prices will increase by 57.6% in 2025 compared to the previous year.
