Is Your Grocery Bill Expensive? This Meal May Be To Blame
Main points
- Grocery prices rose 0.3% in December, driven by eggs and some breakfast pairings.
- In December, the average price of a dozen eggs rose to $4.15, a 65% increase from the same month in 2023.
- Prices for sweets like soda and ice cream dropped last month, as did most fresh meats.
Americans feeling the pinch at the grocery store checkout line may be tempted to ignore what they’ve been told their entire lives and skip breakfast.
Egg prices rose 3.2% in December, more than any other grocery item, according to inflation data released Wednesday. In December, a dozen large Grade A eggs sold for an average of $4.15, up 65% from the same period last year.
Egg prices have soared this year as bird flu swept through U.S. poultry farms, killing millions of laying hens. Although eggs take up a small amount of space in grocery stores, they have had a big impact on prices this year. “Egg inflation” accounted for nearly 1.5% of total inflation over the past 12 months.
Rising egg prices throughout the year have been a thorn in the side of consumers, but they have been a boon to egg producers. Last week, Carle-Maine Foods, the largest U.S. egg producer, reported Sales increased by 80% during the most recent fiscal quarter.
Which grocery store aisles are getting more expensive and cheaper?
Grocery prices rose 0.3% in December, driven by rising prices for a wide range of breakfast items other than eggs. The price of bacon increased by 2.3%, bread (and possibly toast) by 0.7% and flour by 1.8%. Compared with November, roasted coffee prices increased 1.3% in December.
Shopping for lunch and dinner hurts a little less, especially for meat eaters. Bacon prices may be rising, but pork chops are 2.8% cheaper than last month. Prices for ground beef, fresh chicken and fresh fish also fell.
Sweet tooth just got cheaper too. The price of ice cream fell by 1.5%, the price of biscuits fell by 0.9%, and the price of fresh fruit fell by 1.1%, of which the price of oranges fell by 3.4%. Carbonated beverage prices fell 2% from November.