For the eggs I buy, they are currently $7.99/dozen. Cheapest in my store is $5.99/dozen.
That doesn't disprove my point though. Prices are still higher as a baseline than before the supply side shock. Prices raise to a "new normal" and consumers adapt, removing pressure to lower back down to pre-shock levels.
wholesale egg prices have actually plummeted, yet retail prices have only drifted slowly downward incrementally, and have not reached the previous baseline. Its asymmetric price transmission, and its a documented economic phenomenon. "Prices go up like rockets, and fall like feathers"
Eggs in USA literally hit a ten year low a few months ago. I don't know where you live, probably SF or something, but a dozen eggs here is under 3 dollars.
That doesn't disprove my point though. Prices are still higher as a baseline than before the supply side shock. Prices raise to a "new normal" and consumers adapt, removing pressure to lower back down to pre-shock levels.
wholesale egg prices have actually plummeted, yet retail prices have only drifted slowly downward incrementally, and have not reached the previous baseline. Its asymmetric price transmission, and its a documented economic phenomenon. "Prices go up like rockets, and fall like feathers"