The Blubber

Per Axios

The price of eggs, one of the basic types of foods, has seen a significant drop in May compared to April. This was reportedly the largest drop it ever experienced since January 1951.

A report by Axios shares how it is now easier for people to afford eggs. This came as April prices for a dozen large eggs saw a massive drop in May.

In April, a dozen large eggs would reportedly cost buyers $3.27 but dropped to $2.67 in May. This was almost half of the peak of its price at the peak when it reached $4.82 in January.

The US Bureau of Labor Statistics shared data revealing how the index for eggs dropped 13.8%, its largest decline since January 1951. It was also noted that dairy and related products index also saw a 1.1% decline during that period.

While the prices of eggs were chained, it was also noted that the cereal and bakery products index didn't change in May. It was also noted that major grocery items saw an increase from 0.3% to 9.2%.

Axios noted that the sky-high prices of eggs were due to an Avian flu epidemic, symbolizing the 2023 inflation.

It was also reported that nearing the peak in January 2023, during the last three months of 2022, egg smuggling saw a massive increase at the US-Mexico border. This came as egg smuggling saw a 108% increase during those three months.

The information reportedly came from a US Customs and Border Protection field operations director in San Diego, Jennifer De La O, who tweeted out the increase in eggs intercepted.

In February, it was noted that the prices of orange juice had reached an all-time high as it experienced a 30% increase year-to-date. This came as the US Department of Agriculture expects 2023 orange production to drop to its lowest point since the 1930s.

See flow at unusualwhales.com/flow.

Other News:

• Egg smuggling is up 108% at the US-Mexico border in the last 3 months of 2022
• Prices of orange juice reach an all-time high at a 30% increase year-to-date

Resources:

Axios