You could soon see cheaper eggs at the grocery store

MEMPHIS, Tenn. — Families should pay less for eggs in the coming weeks as wholesale prices drop across the country.

“That’ll be good news for the consumers,” predicted John Gnuschke, a Memphis economist.

Wholesale prices are what grocery stores pay producers to buy a food item in bulk.

On Dec. 19, the wholesale price for a dozen eggs was $4.66, according to Urner Barry, a publisher that tracks nationwide changes in food prices.

On Feb. 13, the wholesale price was $1.90 for a dozen eggs.

That’s a price drop of more than 59% over two months.

“We should expect them to continue to fall,” Gnuschke told FOX13. “Prices for consumers might not fall very quickly, but we should expect them over the few months to decline.”

Prices remain high for the time being. According to the Consumer Price Index, eggs are 70% more expensive than a year ago.

“Any increase in prices is really bad for Memphians, in part because we have a large population of people that live a fairly low-income lifestyle,” Gnuschke said. “You’re pressed to keep your costs as low as you possibly can.”