Breakfast food prices continue to soar

Rising food prices have taken a toll on American household budgets in recent years, and although overall inflation has eased, the prices of some foods, particularly breakfast staples, continue to soar.

“At the end of 2024, U.S. consumers experienced the fastest rise in food prices in a year, especially for breakfast foods,” said Niche Tremper, senior economist at Gusto. “Standard foods such as coffee, eggs, orange juice, and beef have seen price increases due to a variety of factors, including inclement weather, illness, and state-based regulations.”

Tremper said prices for household food, a category that consumers buy at restaurants, rose more than household food.

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Here's why the prices of some breakfast foods have gone up.

egg

According to the latest Consumer Price Index (CPI) released by the Department of Labor, the price of eggs rose 8.2% in November, and according to the Wall Street Journal, the price of 12 eggs is now $5.77, and from 2023 onwards. It has increased by 146.6%.

Egg prices have been rising since 2023 due to a combination of seasonal price increases during the holidays and disruptions to the egg supply due to bird flu.

Egg prices will continue to rise until 2025

“Egg prices have soared in the United States due to the avian influenza outbreak, which has wiped out millions of egg-laying hens and significantly reduced supply,” said Sylvain Charlebois, director of Dalhousie University's Agricultural Product Analysis Laboratory. the professor told FOX Business. .

Charlebois said rising feed costs and labor shortages in the agricultural sector are exacerbating the problem, driving up production and retail costs.

coffee

A coffee farmer selects coffee beans on a farm in Santo Antonio do Amparo, Minas Gerais, Brazil. (Douglas Magno/AFP via Getty Images)/Getty Images)

According to the paper, the price of ground coffee in stores has risen 11% in the past year to a record high, according to data from the Labor Department.

“Coffee prices in the United States are being affected by global weather disruptions, particularly in Brazil and Colombia, where drought and frost are hurting production,” Charlebois explained. “Domestic supply chain challenges, such as port congestion and rising transportation costs, are driving demand for specialty and premium coffee higher and pushing prices even higher.”

orange juice

The price of orange juice continues to rise as crops are damaged by diseases and weather events. ((Photo Credit: Jeffrey Greenberg/Universal Images Group via Getty Images) / Getty Images)

“The U.S. orange juice market is reeling from citrus greening disease, which has devastated orange groves in Florida and reduced yields to historic lows,” Charlebois said. “Extreme weather events such as hurricanes in the Gulf Coast and rising costs for materials such as fertilizer and transportation are driving prices even higher for U.S. consumers.

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The magazine said the average price of concentrated orange juice has increased 90% in the past five years, and the price per pound is $4.77, up 18.4% from last year.

beef

Those who prefer steak and eggs for breakfast are in for a double whammy these days.

Beef prices have increased in recent years due to multiple factors. (Photo by Justin Sullivan/Getty Images/Getty Images)

“U.S. beef prices are rising due to higher feed costs due to the drought that has impacted corn and hay supplies,” Charlebois explained. “Right now, with prices so high, many ranchers are exiting the industry for cash.”

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According to the paper, the price of sirloin steak has increased 16.7% since 2023 and now costs about $15.09 per pound, according to data from the Department of Labor.