Eggs are getting cheaper by the dozen.
The average price of a dozen Grade-A eggs decreased 60 cents in May, the largest monthly drop since January 1951, the Bureau of Labor Statistics announced on Tuesday.
That brought the average price to $2.67, which is more than $2 less than the record-high of $4.82 set in January.
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The historic rise in the price of eggs during 2022 was the result of inflation, soaring feed, fuel and labor costs and the bird flu outbreak that disrupted production and supply. That led some consumers to find substitutes, while others began to raise their own chickens and others simply joked that they were painting potatoes for Easter.
But that record-high of $4.82 in January - up from $1.93 in January of 2022 - began to gradually decline each month. With the 60-cent drop from $3.27 in April to $2.67 in May, the average price of eggs is now at its lowest since April 2022 when it was $2.52.
Despite the declining cost of eggs, grocery prices overall experienced a 0.1 percent increase from April to May following two months of decreases. According to Forbes, the price of ground beef increased from $1.87 per pound to $1.92, whole chicken went from $1.82 to $1.92, and fresh fruits and vegetables saw a three percent overall rise.
