Social media posts claiming USDA projected egg prices would be $12 per dozen by fall 2022 are false. A USDA spokesman said his researchers did not predict it.
According to a report by the US Bureau of Labor Statistics (BLS), prices for gasoline, groceries and most other goods and services rose 8.6% in May, pushing inflation to a new 40-year high. The new inflation rate is the most significant annual increase since December 1981.
According to the report, prices rose 1% from April to May, much faster than the 0.3% increase from March to April. Behind the jump were much higher prices for groceries, energy, rent, airline tickets, and new and used cars.
In May, the average price for a dozen eggs in the U.S. was about $2.86, the highest price since September 2015, BLS data shows. posts on social media began circulating in early June, claiming the US Department of Agriculture (USDA) was forecasting egg prices of $12 per dozen by fall 2022.
Has the USDA predicted that egg prices will be $12 a dozen by the fall?
No, the USDA didn’t predict that egg prices would be $12 a dozen by the fall.
WHAT WE FOUND
In an email, a spokesperson for the USDA Economic Research Service (ERS) told VERIFY the agency did not predict egg prices would rise to $12 per dozen by fall 2022. It does not predict or publish retail egg prices, the spokesman said.
However, the ERS publishes forecasts for wholesale prices for eggs. The USDA’s May report on Estimates of Agricultural Supply and Demand forecasts wholesale egg prices for the fourth quarter of the year at around $1.70 a dozen.
The ERS also provides a forecast of changes in the consumer price index and the producer price index for food. In its May report, the ERS says an ongoing outbreak of highly pathogenic avian influenza, affecting more than 38 million birds, is reducing the number of laying layers in the US and causing retail egg prices to rise by 10.3% in April has led.
The agency also notes in its report that retail egg prices are expected to increase by 19.5% to 20.5% in 2022, or 58 cents, or about $3.42 to $3.44 per dozen, sometime during the rest of the year . That’s nowhere near the $12-per-dozen the viral claim suggests.
The Associated Press contributed to this report.
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https://www.king5.com/article/news/verify/food-verify/usda-12-dollar-egg-price-increase-social-media-claims-false-fact-check/536-e7d6386f-2f5f-447e-9c24-d30486bdaa54 USDA not predicting $12 egg prices by fall 2022