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Food inflation has been a big deal for Americans over the past year, especially over the past few months. Due to various factors, food prices have skyrocketed, taking a financial toll on everyone involved. Like Yahoo! Finance report:
The prices of everything used to produce crops are soaring, which threatens to fuel global food inflation.
Food production costs are already high. The pandemic has disrupted supply chains, making it increasingly difficult – and more expensive, to buy essential parts and supplies for crops. Then, the Russian invasion of Ukraine took things to another level, sending the market for fertilizer and fuel needed to operate agricultural machinery skyrocketing. Inflation is so pervasive that even with rising food prices, farmers are facing increasingly difficult profit margins.
Some food items have increased in price especially sharply, even before the chaos caused by the war in Ukraine was taken into account.
According to the Bureau of Labor Statistics dataFor example, the price of beef increased by more than 20% in a year from October 2020 to October 2021.
Well, now another food item is likely to skyrocket in price: eggs. As ZeroHedge reports:
Add eggs to the growing list of foods that increase in price at grocery stores. Caused by highly pathogenic avian influenza (HPAI) spread America.
Bloomberg HPAI reports have been detected in commercial poultry operations, backyard farms, and wild herds up and down the East Coast and throughout the Midwest since January 26.
The problem got so bad that, according to to the Department of Agriculture, millions of chickens and turkeys have been culled on poultry farms across the country.
Therefore, the price of eggs is increasing day by day without end. Again according to ZeroHedge:
Urner Barry data showed wholesale eggs rose 10 cents to $1.60 a dozen on Wednesday, the most significant daily increase since the early days of the virus pandemic. The 5-year average for wholesale eggs is about $1.44.
[…]Since the spread of HPAI is recent, there is no telling if it will ease soon. The most recent outbreak, in 2015, resulted in the culling of 50 million laying hens in 15 states, pushing the retail price of Grade A Eggs to nearly $3 a dozen. The price is currently at $2.
And that price increase is happening as a result of hen deaths and HPAI outbreaks, not the general inflation that has tipped the country and dented the pockets of many Americans.
Furthermore, with the Russian government suffocation “Europe’s loaf” by hitting Ukraine, the prices of cereals and all grain-dependent or grain-related food products could also soon skyrocket significantly.
Eggs, beef, and whole grains are staples of the American diet. Eggs with toast for breakfast and a pot roast or hamburger for dinner have long been part of Americans’ vision of the good life, just like the people Americans want to be like hedges. white or shiny car on the driveway. Now they are set to skyrocket in price.
https://smartzune.com/yet-another-food-item-set-to-soar-in-price/ However, another food item will increase in price