Egg prices up 59.9%, butter up 31.4% since last year: report
ASHLAND, N.J. (CBS) -- There's good news and bad news when it comes to your wallet. As some inflation-hiked items costs have started to fall, eggs are one item where prices have remained high.
Data from the Labor Department shows that eggs have seen the biggest monthly and yearly price hike of any other grocery item. That has some shoppers skipping the store and heading to the farm.
We need to talk about how the price of eggs is up 59.9% from a year ago and 11.1% in December alone. Price of butter is up 31.4% too
— Sarah Ewall-Wice (@EwallWice) January 12, 2023
At the family-owned and operated Arnie's Gourmet in Ashland, New Jersey, eggs are a staple.
"We go through 2,000 meatballs a week. They use a lot of eggs," manager Mark Madrigale said. "We make homemade quiche, egg salad. A lot of our cold salads contain eggs. So, there are a lot of eggs in our stuff, and we can see how that's affecting our bottom line a little bit."
It's not only their bottom line that's being impacted. Shoppers like Colleen Hadden are also feeling it.
"Overall, our grocery bill is going up a bit," Hadden said.
The U.S. Bureau of Labor Statistics says eggs are nearly 60% more expensive than last year.
"Overall, they definitely have increased a lot," Hadden said, "and I have three boys and they love their full breakfast on the weekends of scrambled eggs and everything so I might be making other options for breakfast now."
On average, Arnie's buys 1,000 or so eggs each week to keep up with the demand from shoppers, but they say they're trying their best to not hike up their prices for their customers.
"They went up to $5.99 a couple years ago and they're approaching $6.99 and that's basically what they cost us to get the good eggs in," Madrigale said. "We don't want to raise our prices anymore from $6.99 for a dozen eggs."
"For an organic dozen, I would say it's great," Valerie Pelerin said. "I would say this is about what you're going to pay at any of the other supermarkets today."
For some like Hadden, they're skipping out on the store-bought eggs altogether.
"My sister has chickens in Morristown not too far away," Hadden said. "So, it's always good to know someone that you can get some fresh eggs from too, especially now."
It's just one way that shoppers are making it work with higher food prices.