Egg price annual inflation has decreased
Teh article discusses the significant decline in egg prices, which dropped by 2.7% in May and have decreased by 67% as their peak during Donald Trump’s presidency. This easing of prices provides relief for many families facing inflation. While egg prices rose sharply due too a supply hit from avian flu, the current year-over-year increase is 68%, down from a high of 108% earlier this year. The White House has faced criticism regarding the inflation of egg prices, with administration officials blaming Biden’s policies for the rising costs. The article also highlights that overall inflation remains lower than expected, at 2.4% in May.
Egg prices fell in May, now down 67% since peak under Trump
Egg prices fell 2.7% in May, the Bureau of Labor Statistics reported Wednesday, and now are down by two-thirds since the most recent peak during President Donald Trump’s tenure.
The further decline in the price of eggs, a staple that families buy frequently, is a relief for Trump, who took criticism from Democrats over egg prices in the early weeks of his second term but has since touted the price gains.
Wednesday’s CPI report, which showed lower overall inflation than expected, said that, even with the decline in prices in recent months, egg prices were still up 68% year-over-year in May. Still, that inflation rate is down from as high as 108% in March.
More frequent information on egg prices is available from the U.S. Department of Agriculture. The USDA data shows that egg prices continued to fall through the early part of June, and are now down 67% from the peak in March.
Egg prices and inflation have been hot-button issues, as a major hit to supply from the avian flu has made eggs more scarce and disrupted families’ eating habits.
Both White House Press Secretary Karoline Leavitt and Agriculture Secretary Brooke Rollins have blamed high prices on Biden’s policies. During Leavitt’s first press briefing, egg prices were brought up several times. She claimed the Biden administration spent money “like drunken sailors.”
During the Easter season, Rollins praised Trump for presiding over a decline in egg prices. She, too, blamed Biden for the 230% increase in price during his administration, which was driven by the spread of bird flu.
GAS PRICES: DROP IN FUEL COSTS TO BEGIN JUNE
The overall inflation rate by May was better than expected, rising just a tenth of a percentage point to 2.4 %, while core inflation held steady for the third month in a row.
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