Rising grocery prices have wreaked havoc on Americans’ budgets in recent years, and while inflation in general has been reduced, the prices of some foods, especially a handful of breakfast staples, continue to rise.
“By the end of 2024, US consumers saw some of the fastest rising food prices, particularly breakfast items, in a year,” said Nich Tremper, senior economist at Gusto. “Commodities such as coffee, eggs, orange juice and beef saw price increases driven by a variety of factors, including severe weather, disease and state regulations.”
Tremper said that food prices outside the home, a category for consumer purchases in restaurantsit increased even more than the food at home.
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Here’s why the prices of some breakfast foods have gone up:
eggs
The latest Consumer Price Index (CPI) released by the Labor Department shows that the price of eggs rose 8.2% in November, and according to The Wall Street Journal, the price of a dozen eggs is now of $5.77, up 146.6% from 2023.
Egg prices have been high since 2023 due to a combination of seasonal price increases during the holidays and the disruption of egg supply due to bird flu.
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“In the US, egg prices have soared due to bird flu outbreaks, which have wiped out millions of laying hens, drastically reducing supply,” said Professor Sylvain Charlebois, director of the Agri-Food Analysis Laboratory from Dalhousie University. FOX business.
Charlebois said rising feed costs and labor shortages in the agricultural sector have exacerbated the problem, driving up production and retail costs.
coffee
According to The Journal, the price of ground coffee in stores rose 11% over the past year to an all-time high, according to Labor Department data.
“Coffee prices in the US are affected by global weather disruptions, particularly in Brazil and Colombia, where droughts and frosts have hurt production,” explained Charlebois. “Domestic supply chain challenges, including port congestion and higher shipping costs, are further inflating prices, along with growing demand for specialty and premium coffee.”
orange juice
“The US orange juice market is suffering from citrus greening disease, which has decimated Florida’s orange groves, reducing yields to record lows,” Charlebois said. “Extreme weather events like hurricanes in the Gulf region and rising costs of inputs such as fertilizer and transportation make prices even higher for American consumers.
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The Journal said the average price of orange juice concentrate has risen 90% over the past five years, with the price per pound now at $4.77, up 18.4% year over year. past
beef
People who like steak and eggs for breakfast are getting a double whammy these days.
“Beef prices in the U.S. are rising due to high feed costs driven by droughts that have impacted corn and hay supplies,” Charlebois explained. “With higher prices now, a lot of ranchers are getting out of the industry to cash in.”
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The Journal said Labor Department data show the price of sirloin has risen 16.7 percent from 2023, now around $15.09 a pound.