In the EU’s inflation crisis, the humble egg takes the cake

The humble egg has become a star for the wrong reasons as inflation has hit households across the EU extremely hard this year.

EU Statistical Office Eurostat announced on Friday that the average price of an egg – the essential staple for poor families and gourmet chefs alike – had risen by 30% in the year to January 2023, becoming a symbol of how the cost of living has hit everyone in the 27-nation bloc.

Although the latest inflation figures show annual inflation in the 20-nation eurozone has started to ease to 8.5% in February, the food, alcohol and tobacco sector continued to rise and stood at 15%.

And then eggs surpass almost all. Two years ago, egg inflation was still at a measly 1%, rising to 7% the following year before hitting 30% in February.

Egg prices rose the most in the Czech Republic, rising by 85% over the year, closely followed by two other Central European countries – Hungary (80%) and Slovakia (79%). Germany and Luxembourg stood at the other end, with both a relatively lower increase of 18%.

In it United Statesegg prices have surged over the past year due to the ongoing bird flu outbreak and the highest inflation in decades. The national average retail price for a dozen eggs reached $4.25 in December, up from $1.79 a year earlier, according to the latest government data.