The US is facing an “economic catastrophe and an inflation nightmare”, US President Donald Trump has said, using the surging cost of eggs as just one example of how ordinary Americans are feeling the pinch.
Trump, who pledged to voters during his presidential campaign that he would beat inflation once he was sworn into office, blamed his predecessor, Joe Biden, for the mess.
He said in a speech delivered to Congress on Tuesday: “As you know, we inherited, from the last administration, an economic catastrophe and an inflation nightmare.
“Joe Biden especially let the price of eggs get out of control – and we are working hard to get it back down.”
The spiraling cost of this cheap protein source has caused headache for American families in recent weeks and months. In January, the price of a dozen large eggs hit almost $5 (£3.90), a 54% increase from 2024.
In January 2022, prices stood at $1.46 (£1.14).
That marks a record high in the US and more than two and a half times the average price three years ago, amounting to a staggering 157% inflation rate for the once-cheap household staple.
In New York City, a dozen eggs can cost as much as $14 (£10.93), with some stores selling single eggs – labelled “loosies” – for those unwilling to fork out for a whole dozen.
Egg prices began to spiral during Biden’s tenure, with some experts suggesting that the culling of millions of egg-laying birds last year amid a bird flu outbreak sparked price rises.
Trump’s administration has since announced a $1billion (£792million) plan to help US farmers combat the epidemic.
Officials said $500million will go towards biosecurity measures, with around $100million budgeted for vaccine research and development and $400million for farmer financial relief programs.
Trump’s Government has argued it will offer commercial egg farms with best practices and consulting services for free and pay up to 75% of the costs to address vulnerabilities to help prevent the spread of bird flu.
It has also said it was considering importing eggs that meet US safety standards on a temporary basis.
However, campaigners have argued that major egg corporations have simply used the outbreak as an excuse to hike up prices.
Amanda Starbuck, lead author of the FWW report The Economic Cost of Food Monopolies: The Rotten Egg Oligarchy, told The Guardian: “Bird flu does not fully explain the sticker shock consumers experience in the egg aisle … corporate consolidation is a key culprit behind egg price spikes.”