The consumer price index showed egg prices rising 8.9% from November to December, after rising 2.2% in November. The US Department of Labor changes these data for seasonality.
Egg prices rose the most in December compared to other CPI categories including concert tickets, furniture, energy, and prescription pharmaceuticals. The monthly CPI basket gained 0.3%.
The price of a dozen grade A, big eggs in December was $2.51, down from $4.82 in January 2023. That early 2023 high came after prices doubled in a year.
Agricultural economists attribute that surge to a past bird flu pandemic. The virus is highly contagious and deadly to birds, particularly egg-laying chickens.
Economists estimated the pandemic killed tens of millions of birds, causing an egg shortfall at peak consumer demand over the winter holidays.
The U.S. Department of Agriculture reported that bird flu returned to commercial U.S. table-egg flocks in early November after a hiatus in 2023.
After a 10-month sabbatical, the egg market returns to prominence, according to Karyn Rispoli, head of coverage at Urner Barry, a market research organization.
Egg supplier Eggs Unlimited global trade strategist Brian Moscogiuri said seasonal demand spikes around the winter holidays, which raises shelf pricing and may have contributed to December's hike.