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consumer price index
Under Trump, Egg Prices Smash Record for Third Straight Month
"The only egg prices Donald Trump is lowering," quipped the DNC chair, "is our nest eggs."
Apr 10, 2025
For the third straight month, U.S retail egg prices have hit a record high, despite falling wholesale prices, no bird flu outbreaks, and President Donald Trump's campaign promises—and recent misleading claims.
On Thursday, the U.S. Bureau of Labor Statistics' Consumer Price Index (CPI) reported the average retail cost of a dozen eggs rose from $5.90 in February to $6.23 last month.
Egg prices continue to increase despite bird flu outbreak slowing finance.yahoo.com/news/egg-pri...
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— Yahoo Finance (@yahoofinance.com) April 10, 2025 at 6:22 AM
Earlier this week, Trump claimed that "eggs are down 79%" due to his administration's work, a possible reference to the wholesale price, which does not reflect retail cost due to the role that profit-hungry industrial producers and grocery cartels play in inflating prices.
Trump also said that egg prices "are going down more," a statement that contradicts not only recent trends but also his own administration's Food Price Outlook, which forecasts a 57.6% increase in egg prices for 2025, with a prediction interval of 31.1%-91.5%.
Recent record egg prices have largely been driven by an avian flu epidemic that has forced farmers to cull over 166 million birds, most of them egg-laying hens. However, no farms are currently reporting any bird flu outbreaks.
On Tuesday, Cal-Maine Foods, the nation's largest egg producer, announced quarterly profits of $509 million, more than triple its gains from a year ago. The Mississippi-based company, which produces around 20% of U.S. eggs, also enjoyed a more than 600% increase in gross profits between fiscal years 2021-23, according to the consumer advocacy group Food & Water Watch (FWW).
Yet even as its profits soared, Cal-Maine still took $42 million in federal compensation for losses due to bird flu.
The top five egg producers own roughly half of all U.S. laying hens. The biggest of those corporations is Cal-Maine, which just announced quarterly profits of $509 million — more than 3x what it made a year ago. Corporate concentration + bird flu = a price-hiking free for all.
— Robert Reich (@rbreich.bsky.social) April 9, 2025 at 10:31 AM
Last month, the U.S. Justice Department's antitrust division launched an investigation of alleged price-fixing by the nation's largest egg producers, including Cal-Maine, which isn't even the largest recipient of avian flu-related government assistance. Versova, which operates farms in Iowa and Ohio, has been allotted more than $107 million in federal bird flu relief, The Washington Postreported Wednesday. Hillandale Farms, a Pennsylvania-based company sold last month to Global Eggs, received $53 million in avian flu-related subsidies.
"For those companies to be bailed out and then turn around and set exploitative prices, it just adds insult to injury for consumers," Thomas Gremillion, director of food policy at the Consumer Federation of America, told the Post. "Absolutely, it's unfair."
FWW research director Amanda Starbuck took aim at the corporate food system, saying Thursday that "the industry is proving itself effective at extracting enormous profits out of American consumers."
"We are all paying for it—at the store, with food shortages, and with the growing threat of the next pandemic," she continued.
"Restoring sanity to the grocery aisle will require immediate action to transform our food system," Starbuck added. "To lower egg prices, the Trump administration must take on the food monopolies, hasten and prioritize its investigation into corporate price fixing, and stop the spread of factory farms."
The fresh CPI figures weren't all bad news, as the index saw its first decline in five years, falling 0.1% mainly on the strength of lower oil prices. The 12-month increase in consumer prices also slowed from 2.8% to 2.4%.
However, the mildly positive CPI news was overshadowed by the economic uncertainty caused by Trump's mercurial global trade war, including a ramped-up 145% tariff on imports from China, one of the top U.S. trading partners, and ongoing stock market chaos.
"The only egg prices Donald Trump is lowering," Democratic National Committee Chair Ken Martin quipped earlier this week, "is our nest eggs."
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Inflation Numbers Don't Alter Fears That Trump Has US Economy 'Barreling Toward Recession'
"Instead of trying to lower the cost of living, he's doubling down on his plans to give massive tax breaks to billionaires and giant corporations," said one Trump critic.
Mar 12, 2025
As the U.S. Department of Labor released its monthly consumer price index report on Wednesday, President Donald Trump's new tariffs for steel and aluminum imports took effect, highlighting his threat to the economy and working-class Americans.
The CPI, "a key gauge of inflation, showed that prices rose by 2.8% in February from a year earlier, driven by price relief from airfares and gas," The Washington Postreported. "That was cooler than the 3% annual gain reported for January and an unexpected signal of progress in combating high inflation."
While gasoline prices fell 1.0% and airline fares dropped 4%, the cost of food and shelter rose 0.2% and 0.3% respectively. The bird flu continued to drive up egg prices, which jumped 10.4%. The report adds, "Indexes that increased over the month include medical care, used cars and trucks, household furnishings and operations, recreation, apparel, and personal care."
The White House celebrated the inflation data, but economists were quick to point out that the numbers don't account for the latest developments in Trump's trade war: the new tariffs taking effect on Wednesday—after chaos-causing mixed messages from the president on Tuesday—and Canada and Europe's swift retaliatory measures.
"It's a classic head fake," Joe Brusuelas, chief economist at RSM, told the Post. "Going forward, tariffs are going to increase the costs of manufacturing in general and autos in particular."
Chris Low, chief economist at FHN Financial, similarly toldReuters that "trade wars are expected to raise prices in future inflation reports," though he also said the odds that the Federal Reserve can cut interest rates "again this year once the smoke from the tariff back-and-forth clears increased today nonetheless."
Trump's trade policies and other recent decisions, including letting billionaire Elon Musk gut the federal government, have elevated fears of a recession—which one economist suggested naming after the president—and even sparked speculation that he is tanking the economy on purpose.
In a Wednesday statement about the CPI report, Groundwork Collaborative chief of policy and advocacy Alex Jacquez said that "while families are still struggling to put food on the table and a roof over their head, the administration's response is that they should raise their own chickens in their backyards."
"Every economic indicator suggests that President Trump has us barreling toward a recession and stagflation. But instead of trying to lower the cost of living, he's doubling down on his plans to give massive tax breaks to billionaires and giant corporations," Jacquez added, referring to congressional Republicans' efforts to send Trump legislation that would fund tax giveaways by slashing Medicaid and the Supplemental Nutrition Assistance Program (SNAP).
In addition to Jacquez's comments, Groundwork and Data for Progress also released a poll showing that over a fifth of U.S. voters across the political spectrum are most frustrated with rising grocery costs. Another 10% are most frustrated with high bills for utilities like electricity, gas, and water. They were followed by around voters frustrated with out-of-pocket healthcare costs, rent or mortgage, or health insurance premiums.
Groundwork Collaborative warned that "Trump's threat of new tariffs risks making the housing crisis worse. By driving up the cost of construction materials, his trade war with Canada could shrink the supply of new housing, keeping overall prices high. That, in turn, forces the Federal Reserve to keep interest rates elevated, making mortgages more expensive."
The think tank also stressed that the Trump administration is "destroying affordable healthcare" by fighting to cut Medicaid and Medicare, reinstate work requirements, and limit Affordable Care Act enrollment; "raising energy bills" by freezing funds for clean energy projects while advocating for planet-wrecking fossil fuels; and "making groceries more unaffordable" by pushing SNAP cuts "instead of tackling corporate price gouging and market consolidation in the food industry."
Food & Water Watch similarly responded to the new CPI data by calling out failures to crack down on corporate price gouging—as detailed in the group's report from last week titled, The Rotten Egg Oligarchy.
"Record-high egg prices have everything to do with corporate greed," Food & Water Watch research director Amanda Starbuck said Wednesday. "While skyrocketing prices transform eggs into a luxury item, the food monopolies are seeing green. President Trump needs to get serious about lowering American food prices—starting with cracking down on the food monopolies exploiting the worsening bird flu crisis for profit."
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Dems in Congress Vow to Fight 'Inflationary Policies' of Trump
"Make no mistake: imposing new tariffs, mass deportations, and politicizing the Federal Reserve will lead to skyrocketing prices," said the Joint Economic Committee chair.
Nov 13, 2024
Leading Democratic lawmakers used new federal inflation data on Wednesday to renew their warnings about the economic threat posed by U.S. President-elect Donald Trump and pledge to keep fighting for working America—despite minorities in Congress.
"Democrats continue to fight to lower costs, and we saw promising signs last month that the cost of energy, groceries, and new vehicles stabilized. But with President-elect Trump in office, the reality for Americans' finances will become bleak," said Sen. Martin Heinrich (D-N.M.), chair of the U.S. Congress Joint Economic Committee (JEC).
Throughout Trump's campaign against Democratic Vice President Kamala Harris, JEC Democrats released reports warning about Project 2025, a sweeping far-right policy plan for the next Republican president. Although Trump tried at times to distance himself from the Heritage Foundation-led initiative, it was crafted by at least 140 people who served in his first administration—and since Election Day, there have been clear signals from the president-elect's allies that "yeah actually Project 2025 is the agenda."
Heinrich said that "Trump and Republicans have led Americans to believe that their policies will lower costs, but make no mistake: imposing new tariffs, mass deportations, and politicizing the Federal Reserve will lead to skyrocketing prices. And that's only a sample of the inflationary policies Republicans have laid out in their Project 2025 playbook."
"Democrats have built a strong economy with smart policies that empower workers, grow the middle class, and lower costs for families. Meanwhile, Trump's policies will only help his CEO friends and ultimately lead to a weaker economy," he continued. "Democrats' commitment to families will not end because of a new Trump administration. We'll continue fighting to ease the financial burdens on families and ensure everyone across the country feels relief."
"American families cannot afford more Republican 'trickle-down' economics that throws the middle class under the bus while slashing taxes for billion-dollar corporations."
Congressman Brendan Boyle (D-Pa.), ranking member of the House Budget Committee, responded similarly to the consumer price index (CPI) data on Wednesday, declaring, "Make no mistake: Trump's tariffs are taxes by another name—and it is hard-working American families who will pay the price."
"While today's report continues to show the progress we've made under the Biden-Harris administration, CEOs are already talking about raising prices for consumers in response to Trump's tax hikes," Boyle noted.
NPRreported last week that "forecasters at Pantheon Macroeconomics project that a 10% tariff would increase inflation by about 0.8 percentage points next year and impose an additional drag on U.S. manufacturers." Companies warning of price hikes if Trump's tariffs are implemented include AutoZone, Columbia Sportswear, and Stanley Black & Decker.
"I am deeply concerned that Trump's plans will force Americans to pay higher prices for everything from clothing to groceries," Boyle said. "American families cannot afford more Republican 'trickle-down' economics that throws the middle class under the bus while slashing taxes for billion-dollar corporations."
Steven Mnuchin, Trump's former treasury secretary, recently toldCNBC that tariffs, sanctions on Iran, and tax cuts will be top issues for Trump—despite Congressional Budget Office analysis that extending tax cuts the Republican passed in his first term to serve wealthy individuals and corporations would add $4.6 trillion to the national deficit.
"The top priority is extending the Trump tax cuts and the signature part of his program. I think that should be easy to pass in Congress, particularly if the Republicans control the House as well," Mnuchin said last week. Since then, decision desks have confirmed Republicans will retain their House majority, in addition to seizing control of the Senate and Oval Office.
Senate Republicans elected Sen. John Thune (R-S.D.) as their next leader on Wednesday, just hours after the U.S. Bureau of Labor Statistics announced that, as expected, the CPI increased 0.2% in October and prices grew 2.6% over the last year. Economists said the data means the Federal Reserve will likely cut interest rates again next month.
Trump is set to be inaugurated in January and has suggested he may try to oust Fed Chair Jerome Powell, whom he appointed in 2017, despite legal barriers. Powell—who has faced criticism from some economists and progressive lawmakers for holding off on rate cuts for so long, at the expense of the working class—seems prepared to fight for his job.
As Fortunereported Monday:
During a news briefing on Thursday after the Fed cut rates, Powell was asked if he would resign if Trump demanded it, and Powell simply replied "no." Later he was asked if he thought a president has the authority to fire or demote a Fed chair or other Fed official in a leadership post, and Powell said, "Not permitted under the law."
That exchange prompted Sen. Mike Lee (R-Utah) to post on X, "The executive branch should be under the direction of the president. That's how the Constitution was designed. The Federal Reserve is one of many examples of how we've deviated from the Constitution in that regard. Yet another reason why we should #EndTheFed.”
Tesla CEO Elon Musk... then reposted it with a "100" emoji that indicates strong support.
Amid a wave of Cabinet picks, Trump announced Tuesday that Musk—the world's richest person and a leading supporter of his campaign—and fellow billionaire Vivek Ramaswamy will lead the not-yet-created Department of Government Efficiency, which will work to "dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies."
As Common Dreamsreported, Lisa Gilbert, co-president of the watchdog group Public Citizen, responded to the news by warning that "'cutting red tape' is shorthand for getting rid of the safeguards that protect us in order to benefit corporate interests."
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