To put a spin on a famous proverb, if you want to save some money, you may want to break some eggs. Grocery prices in general have seen a record string of declines recently, but the price swings have been especially huge when it comes to everyone’s favorite breakfast staple.
As we discussed last month, a number of factors have played into “food deflation,” a phenomenon that has caused a series of monthly year-to-year grocery cost declines that is on track to be the longest in five decades. But as Modern Farmer reports, the price of eggs has seen an even larger plummet due to additional factors beyond slumping demand abroad.
This time last year, the average price of a dozen eggs shot up to over $3 a dozen thanks to avian flu disproportionately affecting egg-laying hens. The issue of bird flu is back under control for 2016, but on top of that positive news, good weather and low fuel costs have also played into an egg surplus that recently put the mean price of eggs down to a mere $1.46 per dozen. To put it simply, you can now get twice as many eggs for the same price you were paying a year ago.
Of course, to mess with another proverb, man cannot live on eggs alone, so low egg prices probably aren’t launching individual shoppers into the one-percent. But as Quartz points out, even when adjusting for inflation, eggs are at their lowest price since 2006 – which, let me remind those of you who are older than you like to pretend you are, was an entire decade ago. That’s back when Chamillionaire had just started bragging about “ridin’ dirty.” So yeah, why not celebrate such low prices by making yourself an omelet – unless of course you’re “Crazy.” Yup, Gnarls Barkley had a hit with that one back in 2006 too. Who knew cheap eggs could make you so nostalgic?