Egg Prices Set to Ease as Shoppers Give Up After 60% Surge
- Prices rose 10% in February but have declined in recent weeks
- Consumer demand weakens after eggs soared to a record
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US egg prices are finally showing signs of relief after a nearly 60% surge over the past year has made shoppers reluctant to buy.
Egg prices jumped 10% on a seasonally-adjusted basis in February from the previous month, bucking an overall trend of slowing food inflation, according to a US Bureau of Labor Statistics report Wednesday. The price skyrocketed to a record over the past 12 months amid a shortage of eggs due to the worst-ever outbreak of highly pathogenic avian influenza.