Egg Costs Jump 18.3%, Most Since 1973

Ouch! Your wallet is getting whacked by higher egg costs. Prices jumped 18.3% in June, the most since 1973, according to the government’s Consumer Price Index. The egg industry has been hurt from a widespread outbreak of the Avian Flu that began earlier this year. An estimated 48 million birds have been impacted, according to the USDA.

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Chris Christopher, director of consumer economics, IHS Insights notes the surge is hitting kitchens nationwide. "Food-at-home (costs) climbed rapidly in June due a surge in egg prices," he writes adding that eggs accounted for, "three-quarters of the food at home increase and surged at their fastest monthly clip in over 40 years."

The average price for a carton of eggs was $2.49 last month. Prices in New York are running 15 cents higher on Extra Large and Large eggs, 10 cents higher on Medium.  Regional and California egg prices are unchanged according to a report from the USDA published Monday

On the flip side, the cost of dairy items is on the decline dipping 0.6% the sixth straight month of declines. A half gallon of regular milk will run you $2.82 while organic costs more at $4.00 per the USDA's National Retail Report - Dairy.

Despite the divergence between dairy and eggs, $40.00 worth of food in 2015 has the same purchasing power as $39.41 last year. Food inflation is rising the fastest in Atlanta, San Francisco and Cleveland.

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The Consumer Price Index for June rose 0.3%, less food and energy, the increase was 0.2%.

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