It can be pretty easy to find things to worry about in today's economy. For example, according to the Consumer Price Index (CPI), the average price of eggs increased by 60 percent in 2022. That means their price rose faster than almost any other good or service in a year characterized by painfully high inflation.1
Now, if you're like me, a good scramble or omelet is nothing to yolk about. Luckily, some egg-cellent research revealed that wholesale egg prices are projected to fall nearly 30% in 2023. If that prediction holds, it will put the average nationwide price of wholesale eggs at about $2.07.2
In other words, that initially scary statistic, although true, doesn't mean the future is rotten. While it's true that the rise in some of our most often-bought goods, such as eggs, has been significant, it's essential to keep in mind that the overall economy is showing signs of stability.
Let us know if you'd like to chat more about inflation, the economy, or even your favorite way to poach an egg. We're always happy to talk.
1. CNBC.com, "The hidden price of eggs: How high costs may trickle into other foods" February 10, 2023
2. CTInsider.com, "Egg prices are expected to drop in 2023, nationwide" March 14, 2023