The price of eggs in fresh food stores in the United States rose 47% in July compared to the same period last year, and breakfast suffered an “inflationary disaster,” according to the latest data from IRI, an American retail analysis company.
Bloomberg reports that the main reason for the jump in egg prices is that the United States is experiencing one of the worst poultry outbreaks in history.InfluenzaEpidemic, kills more than 30 million commercially raised and wild birds, with layers and turkeys most affected. Although the bird flu epidemic has subsided, it will take time to reintroduce chickens and ducks, and it is expected that egg prices will eventually come down.
IRI also announced annual increase in food products including milk in July this yearoil priceNetted rose 26%, breaded bread 15%, frozen meals up 23% and frozen pizza 18%.
IRI said consumers are fighting inflation by switching to lower-priced brands and shopping for deals that are on sale, such as when 55% of ice cream is sold on a particularly hot July day. Overall food prices increased at an annual rate of 14% in July.
The Bureau of Labor Statistics will release the Consumer Price Index (CPI) on July 10, and the market is concerned about the latest changes to this indicator.