PHOENIX — The last few months have seen egg prices shoot up.
When most of us think of inflation, we now think of eggs, but there are indicators that prices may start coming down.
It starts with the wholesale market.
Urner Barry is an Agribusiness market tracker and their wholesale egg index price for the week of February 13, fell 4% to $1.896.
This is still a 365% year-to-date rise in wholesale prices, but the index is down 60% from the peak it saw in the middle of December.
Retail trackers are just beginning to see a fall in prices.
The grocery tracking company Datasembly told ABC15 that updated price data shows eggs are falling in all but 11 states.
Midwestern states are seeing the most aggressive week-to-week drop in prices.
Minnesota tops the list with a decline of 7.88%.
Arizona is on the lower end, but most shoppers are paying less for eggs than they did last week.
Arizona prices are down 2.6%.
While this is good news, the wholesale and retail markets for eggs have behaved differently in 2022 compared to the two years prior.
Both indices were tightly correlated until February 2022 when the Urner Barry wholesale index began to fluctuate more wildly.
The hope is due to the large and sustained drop in the past few weeks that retail prices will begin responding in a big way.
ABC15 looked at the current retail prices of a dozen large eggs at major vendors across the Valley.
Stores requiring club membership were not looked at.
Right now Walmart has the best price at $3.28. A big jump happens after that with Safeway, Target, and Fry’s all hovering around five dollars.
