One-Third of Americans Have Stopped Buying Eggs as Prices Continue to Rise: Study
One-third of Americans have stopped purchasing eggs due to soaring costs, with many households waiting for prices to drop to at least $5 per dozen before buying again, according to a new study from Clarify Capital.
The survey of 1,000 Americans revealed that 10 percent of consumers have turned to egg substitutes such as plant-based alternatives and flaxseed until prices decrease. The report also highlighted that the average price of a dozen eggs in the US has risen from $1.49 in 2018 to $5.18 today.
According to the Department of Labor’s Consumer Price Index, egg prices surged 58.8 percent year-over-year in February. The sharp increase in egg prices comes as the egg industry has faced the effects of Highly Pathogenic Avian Influenza (HPAI), which has significantly impacted egg production. The USDA has warned that prices are expected to climb another 40 percent in 2025.
“When staples such as eggs cost so much that they qualify as a luxury item in the average home, they put pressure on nutrition, on family budgets, and even mental well-being,” Clarify Capital CEO Michael Baynes told Fox News. While Baynes believes prices will remain high, he noted, “We may see permanent shifts in consumer habits and expenditures years after the inflation peaks.”
In response to the crisis, the USDA has announced an additional $500 million investment in biosecurity measures, $400 million in financial relief for farmers, and $100 million for vaccine research. The agency is also exploring ways to reduce regulatory burdens to help the egg market.
The outbreak began in 2022 and has affected over 166 million birds, including 127 million egg-laying hens. This has resulted in an average annual loss of 42.3 million eggs.
