U.S. retail egg prices fell in April from the record-high prices they hit earlier this year, according to government data released Tuesday.
The average price for a dozen Grade A eggs dropped 12.7% to $5.12 in April, according to the Consumer Price Index. It was the first month-to-month decline in egg prices since October 2024.
Still, egg prices remain near historic highs as a persistent outbreak of bird flu continues to wipe out flocks of egg-laying hens. The April figure is 79% higher than the same month a year earlier, when the price averaged $2.86 per dozen.
In March, U.S. egg prices had climbed to a record $6.23 per dozen. It was unclear how much egg prices would fall in April because consumer demand is usually high around Easter and Passover.
Bird flu has killed more than 169 million birds since early 2022. Any time a bird gets sick, the entire flock is killed to help keep bird flu from spreading. That can have an effect on the egg supply because massive egg farms may have millions of birds.
In April, outbreaks on two farms on Ohio and South Dakota affected more than 927,000 egg-laying hens.
Wall Street is heading for more records.
Stocks nudged higher ahead of a week with several data reports that could dictate by how much or even whether the Federal Reserve will cut interest rates at its next meeting in a week.
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The housing market is becoming more buyer-friendly after years of sharply rising prices.
Wall Street is sinking as rising pressure from the bond market pulls U.S. stocks further from their records.
The average rate on a 30-year U.S. mortgage slipped this week to its lowest level in 10 months, but remains close to where it’s been in recent weeks. The long-term rate eased to 6.56% from 6.58% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.35%. Elevated mortgage rates have kept the U.S. housing market in a slump since early 2022, when rates began climbing from pandemic lows. The recent downward trend bodes well for prospective homebuyers who have been held back by stubbornly high home financing costs, but it has yet to spur a turnaround for home sales.
