Wholesale egg prices are falling. Will consumers see some relief?
CBSN
When announcing his latest round of tariffs on April 2, President Trump veered into the subject of eggs, noting that prices "dropped now 59%, and they're going down more, and the availability is fantastic."
Wholesale egg prices — or the price paid by large buyers like grocery stores — have declined 43% since year start, with much of the decline occurring since Mr. Trump's Jan. 20 inauguration. While retail data for March isn't yet available, grocery stores tell CBS MoneyWatch that lower prices are now starting to trickle down to consumers, and that there should be plenty of eggs available for Easter and Passover later this month.
Lower egg prices may represent a bright point for consumers at a time when inflation remains sticky, and may reignite this year due Mr. Trump's tariffs, economists say. The new levies are set to hit all imports from food products to automobiles. Egg prices have declined partly due to the U.S. Department of Agriculture's five-point plan to tackle the issue, which includes battling the bird flu and importing eggs from nations including Turkey and South Korea.
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