Egg prices tumbled in May by the most since 1951 as US output continued to rebound from the worst-ever outbreak of avian influenza that killed millions of birds.
(Bloomberg) — Egg prices tumbled in May by the most since 1951 as US output continued to rebound from the worst-ever outbreak of avian influenza that killed millions of birds.
An almost 14% drop in prices from April came as meat and dairy prices also eased, helping to slow the rate of food inflation to 0.2% for the month from April, according to US Labor Department data released Tuesday.
Overall, easing US inflation is supporting the case for the Federal Reserve to pause interest-rate hikes later this week.
Still, volatile weather continued to hit some food categories. Prices for frozen noncarbonated juices and drinks jumped 7.4% — the most ever — amid a disappointing US orange harvest.
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