Egg Prices Reach Record High Just In Time For Easter

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If you’re planning any kind of egg hunt for the coming Easter holiday, you’ll have to dig down much deeper into your pocketbook than last year. This, at the same time the Trump stock market keeps crashing. Donald Trump is either clueless about the situation or he’s lying – or both.

From The New York Times:

For weeks, President Trump has repeatedly boasted that his administration had managed to bring egg prices down. But new data on Thursday showed that egg prices at the grocery store continued to climb in March.

Egg prices rose 5.9 percent over the month, according to data released by the Bureau of Labor Statistics. They climbed at a slower rate, though, after rising 10.4 percent in February and 15.2 percent in January.

Compared with a year earlier, egg prices are up 60.4 percent.

Egg prices have reached record highs in recent months as bird flu outbreaks have hit poultry farms and forced producers to cull tens of millions of hens. But Mr. Trump, who had vowed to bring down grocery prices while on the campaign trail, has continued to claim victory on egg prices. This month, Mr. Trump said that egg prices had dropped 59 percent, and on Monday, he said that egg prices were down 79 percent.

Maybe the elderly Trump merely forgot to mention he was talking about wholesale prices which, The Times noted, have fallen by roughly half since he got back into the White House. But lower wholesale prices do not mean retail prices will closely follow. While “some relief” is probably on the way, “New avian flu outbreaks could continue to put pressure on egg prices,” The Times said. “And even though a drop in wholesale egg prices typically translates to lower prices at the grocery store, retailers do not necessarily have to pass all of the savings to consumers.”

This chart from the U.S. Bureau of Labor Statistics says it all: