Egg prices soar – and it’s not the only item on your shopping list rising

The cost of everyday grocery items is on the up, with lettuce and eggs experiencing the most significant price increases among all food and drink products since the start of 2024, according to the latest six-month data from the Bureau of Labor Statistics.

On the other hand, citrus fruits have seen a decrease in price after recovering from a difficult 2023.

Data from the consumer price index shows that the price of lettuce has surged by 10.3 per cent from last November through May.

This rise is partly due to a shortage caused by poor weather conditions for growing in California and Arizona, Miguel Gomez, a food and agricultural economist at Cornell University, told Forbes.

Growing lettuce can be tricky as it mainly flourishes in western states that are dealing with water supply problems.

It’s also labour-intensive, making it more expensive to produce, particularly in states like California that have raised the minimum wage, potentially passing this cost onto consumers, said Colorado State University professor Dawn Thilmany.

Eggs came second to lettuce with the second-largest increase at 9.5 per cent. Gomez suggested this might be because suppliers overcompensated after prices fluctuated significantly last year.

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Thilmany added that this could still be related to the recovery from the impact of avian influenza on laying houses and supply in recent years.

Citrus fruits, including oranges and tangerines, as well as apples, are experiencing some of the most significant price decreases. Gomez links this to an abundant citrus harvest in the US this year.

The surplus has resulted in an excess supply within the country, alongside imports, signalling a shift from the difficult citrus market conditions of 2023.

Thilmany echoes Gomez’s sentiments about the fall in fruit prices, attributing it to “really good growing conditions” for winter crops like citrus, which have likely led to the lower costs.

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