The retail price of eggs fell for the first time in months in February after a recent bird flu outbreak ravaged supplies.
Following months of sharp increases, the price of eggs fell 6.7%, according to data released Tuesday by the Department of Labor. The average price of a dozen grade A large eggs was $4.21 last month compared to $4.82 in January, data shows.
Still, prices remained high above those reported last year. In January 2022, a dozen grade A large eggs cost about $1.93, according to the Labor Department.
Egg prices rose amid an ongoing outbreak of bird flu and soaring costs for feed, fuel and labor, The Associated Press reported. Brian Moscogiuri, a global trade strategist at egg supplier Eggs Unlimited, told CNBC that lower prices reported last month were partly due to lower demand seen regularly in the early months of the year. Experts told the news network that prices may rise again during the Easter holiday in April, when eggs are typically in higher demand.
However, “do we expect crazy, record pricing again? No,” Moscogiuri told CNBC.
Demand for eggs has increased in recent weeks while supplies have been “light to moderate,” according to the U.S. Department of Agriculture.
The cost of groceries rose by about .3% last month, with increases in the prices of nonalcoholic drinks, cereals, bakery products, fruits, vegetables, dairy and dairy-related products. Over the last year, officials said the cost of eating at home rose by just over 10%, with prices of cereals and bakery products seeing the biggest hikes.