The steep drop comes one day after data showing egg prices at grocery stores fell on a monthly basis for the first time since September.
As the U.S. sees an eighth straight month of falling inflation, a steep drop in wholesale egg prices last month fueled an unexpected decline in the producer price index, a predictive indicator for consumer prices, data from the Bureau of Labor Statistics released Wednesday showed.AP/Ross D. FranklinA 36.
While chicken eggs were the largest contributor to the decline, prices of fresh and dry vegetables, as well as natural gas and diesel fuel also fell, the Labor DepartmentFor the first time since September, egg prices dropped on a month-to-month basis, falling 6.7% between January and February, the Labor Department reported Tuesday. In February, the average price for a dozen grade A eggs was $4.21, down from January’s record breaking price of $4.
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