Rising egg prices now top cost of ground beef

BISMARCK, N.D. (KFYR) - Rising egg prices are a characteristic of inflation that has become widely known and noticed. Now, as the price continues to rise, a dozen eggs have surpassed the cost of a pound of ground beef for the first time since the tracking of consumer prices began in 1980.

The average price of a dozen large Grade A eggs was $4.82 in January 2023, while a pound of ground beef was $4.64. In January 2022, eggs were $1.93 and beef was $4.77. Egg prices have soared nearly 70% in only one year.

“Over the last year when we’ve seen inflation take ahold of some food prices, beef has been able to weather the storm. We’ve only seen very minimal, like only 1-2% increases in beef prices,” said Nicole Wardner, interim executive director of the ND Beef Commission.

According to agricultural economists and those in the protein industry, the highly pathogenic avian influenza is largely to blame for rising egg prices because the disease has a lower supply. As a result, in 2022 egg production was down about 363.6 million dozen. Wardner says that the beef supply, however, has remained healthy.

Copyright 2023 KFYR. All rights reserved.