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Quoted By: >>1405646
https://www.nbcnews.com/business/consumer/egg-prices-decline-grocery-shoppers-face-uncertainty-rcna205220
Egg prices are stabilizing after a sharp run-up earlier this year, but grocery shoppers are already getting used to shelling out more for those and other pantry staples.
After peaking at $6.55 in mid-March, a dozen eggs sold for an average of $5.45 nationwide as of the week ending April 19, according to the latest data available from the market research firm NIQ. The ongoing decline is welcome news for consumers, but it comes amid higher prices for a number of pantry staples even as inflation overall has cooled.
The price surge has shifted shoppers’ expectations, and many have begun to make peace with much higher costs, however grudgingly. The average price consumers say they’d pay for a dozen eggs is $5.56, the market research firm Numerator reported last month, up sharply from $4.90 in January.
“This increased willingness to pay over the past few months indicates consumers are growing accustomed to higher egg prices, either consciously or subconsciously,” the researchers said.
And it isn’t just eggs: Many shoppers are bracing to pay more for groceries overall as they shift focus toward covering essentials.
Many are now planning to trim their spending this summer on everything from clothing and furniture to travel, according to a survey the consulting firm KPMG released in late April. Groceries were one of just two categories where shoppers said they expect to spend more.
“Tariffs have gone from background noise to front and center for consumers — and their grocery receipts show it,” Heather Rice, consumer and retail tax leader at KPMG, said in a statement with the results. “Shoppers are more price-sensitive than ever, and many are connecting rising costs directly to tariffs.”
Egg prices are stabilizing after a sharp run-up earlier this year, but grocery shoppers are already getting used to shelling out more for those and other pantry staples.
After peaking at $6.55 in mid-March, a dozen eggs sold for an average of $5.45 nationwide as of the week ending April 19, according to the latest data available from the market research firm NIQ. The ongoing decline is welcome news for consumers, but it comes amid higher prices for a number of pantry staples even as inflation overall has cooled.
The price surge has shifted shoppers’ expectations, and many have begun to make peace with much higher costs, however grudgingly. The average price consumers say they’d pay for a dozen eggs is $5.56, the market research firm Numerator reported last month, up sharply from $4.90 in January.
“This increased willingness to pay over the past few months indicates consumers are growing accustomed to higher egg prices, either consciously or subconsciously,” the researchers said.
And it isn’t just eggs: Many shoppers are bracing to pay more for groceries overall as they shift focus toward covering essentials.
Many are now planning to trim their spending this summer on everything from clothing and furniture to travel, according to a survey the consulting firm KPMG released in late April. Groceries were one of just two categories where shoppers said they expect to spend more.
“Tariffs have gone from background noise to front and center for consumers — and their grocery receipts show it,” Heather Rice, consumer and retail tax leader at KPMG, said in a statement with the results. “Shoppers are more price-sensitive than ever, and many are connecting rising costs directly to tariffs.”
