Grocery prices fell more in April than they have since 2020, driven by egg prices that saw their biggest drop in more than 40 years.
The average price of a dozen Grade A eggs fell by more than 12% during the month, the largest monthly decline since 1984, and the first month-to-month drop since October, according Bureau of Labor Statistics (BLS) data released Tuesday. The price of meats, poultry, and fish fell by 1.6%, while cereal and bakery items fell by 0.5%.
Grocery store prices overall declined more in April than they have since September 2020, shortly before Joe Biden took office. Five of the six major grocery store price indexes dropped, with non-alcoholic beverages being the only one to increase.
A dozen eggs cost less than $1.50 when Joe Biden entered office in 2021, but almost $5 when he left. President Donald Trump made lowering egg prices one of his top priorities, and his administration released a five-step plan to tackle the problem. (RELATED: ‘Remarkable Reversal’: CNN Stunned As Trump Prediction Proves True)
President Donald Trump carries boxes of pizza for the FDNY Engine 2, Battalion 8 firehouse on May 02, 2024 in New York City. (Photo by Michael M. Santiago/Getty Images)
Trump increased imports of eggs from countries such as South Korea to immediately raise supply and lower prices, and ramped up domestic production for the first time in several years. USDA announced on Monday that more than 9 billion eggs will be produced in the United States in 2026. His administration also pledged $1 billion to help farmers fight bird flu and began investigating the largest domestic egg producer for artificially increasing prices.
Secretary of Agriculture Brooke Rollins predicted in April that egg prices would soon start falling.
“When you look at the wholesale cost of eggs — which drives the retail cost, the retail will follow soon,” she said on CNN.
“Some parts of the country, it has not followed yet, but it’s coming,” Rollins added.
CNN published an article on Tuesday with the headline ‘Trump’s egg price fiction has suddenly become reality.”
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