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Forbes Magazine estimates that most household expenses have increased by around 8.6% since last year. Unfortunately, this hasn’t affected all expenses equally. Food in general and staples in particular have been hit the hardest. The increase in food prices since October is close to 10% and economists predict they won’t go down anytime soon. The silver lining? They might not increase either. As inflation continues, income may catch up.
That being said, certain items are likely to remain pricey in the near future. Eggs, meat and other more perishable and energy intensive items are set to remain costly. It doesn’t help that food manufacturers often rely on consumers becoming accustomed to price increases. They hope that we will just accept the new price. So props to the good folks documenting the effects of inflation, since it can help all of us keep food costs in perspective.
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Inflation can’t take all the blame when it comes to the ludicrous rise in egg prices. Avian influenza has spread its way across chicken populations, in a record outbreak. Typically, the holiday season also causes a spike in egg prices, as people cook and bake more than usual. This year, that spike has yet to decrease. Since poultry farms have to cull their populations to limit the virus, supply remains significantly lower than demand. You can probably see where this is going.
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It doesn’t help that eggs are truly a staple. Most people aren’t eating Wagyu beef every meal, but eggs are a baking and breakfast mainstay for a reason. On the bright side, in places hit particularly hard by egg shortages people might be willing to try vegan alternatives. In California, plant-based egg substitutes have seen sales rise by around a quarter.
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