Egg prices up 59.9%, butter up 31.4% since last year: reportThank you for reading this post, don't forget to subscribe!
ASHLAND, N.J. (CBS) – There is good news and bad news when it comes to your wallet. As the cost of some items raised by inflation has begun to fall, eggs are one item whose prices remain high.
Data from the Department of Labor shows that eggs experienced the largest monthly and annual price increases of any other food item. This causes some shoppers to skip the store and head to the farm.
At family-owned and operated Arnie’s Gourmet in Ashland, New Jersey, eggs are a staple.
“We go through 2,000 meatballs a week. They use a lot of eggs,” said manager Mark Madrigale. “We make homemade quiche, egg salad. Many of our cold salads contain eggs. So there’s a lot of eggs in our stuff and we can see how that affects our bottom line a little bit.”
It’s not just their bottom line that’s affected. Shoppers like Colleen Haddon feel it, too.
“Overall, our grocery bill is going up a little bit,” Haddon said.
The US Bureau of Labor Statistics says eggs are nearly 60% more expensive than last year.
“Overall, they’ve definitely grown a lot,” Haddon said, “and I’ve got three boys and they love their full breakfast on the weekends with scrambled eggs and everything, so maybe now I’m doing other breakfast options.”
On average, Arnie’s buys about 1,000 eggs each week to meet customer demand, but they say they do their best not to raise prices for their customers.
“They went up to $5.99 a couple of years ago and they’re getting closer to $6.99 and that’s basically what it cost us to get the good eggs,” Madrigale said. “We don’t want to raise our prices from $6.99 a dozen eggs anymore.”
“For an organic dozen, I’d say it’s great,” Valerie Pellerin said. “I’d say that’s about what you’d pay in any of the other supermarkets today.”
For some like Haddon, they skip store-bought eggs altogether.
“My sister has chickens in Morristown not too far away,” Haddon said. “So it’s always good to know someone you can get fresh eggs from, especially now.”
That’s just one way shoppers are making it work with higher food prices.
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