Egg Prices Plunge: Biggest Drop Since 1984, But Still 49% Above Last Year

Egg prices in the US plummeted 12.7% last month, the biggest drop since 1984, according to the Bureau of Labor Statistics (BLS). This significant decrease follows a devastating avian flu outbreak earlier this year, which wiped out 30 million egg-laying birds. CNN business and politics correspondent Vanessa Yurkevich explains that the industry is now recovering from this setback. However, despite the recent price drop, eggs still cost 49.3% more than they did in April of last year. The video also addresses claims made by President Trump about even more substantial price decreases, clarifying that these figures likely reflect wholesale prices rather than those consumers see at the grocery store. While the drop is a positive development, it's clear that egg prices still have a way to go before returning to pre-outbreak levels. The situation underscores the impact of agricultural crises on consumer prices and the importance of accurate reporting on economic trends.