Inflation and other factors related to the U.S. economy continue to wreak havoc on Americans, and the price of Easter essentials, including eggs, chocolate and candy, remains at near-historic highs. The average price for a dozen grade A eggs in cities throughout the United States sat at around $2.99, according to February data provided by the Federal Reserve. That price is more than double the cost of a dozen of the same eggs in January 2021, when the average price sat at $1.46.
The price of chocolate has soared in recent years partly due to a surge in the price of cocoa, a key ingredient for chocolate that recently surged to an all-time high of $10,000 per metric ton on global commodity markets for the first time. The spike in cocoa prices is about quadruple the cost a year ago, when it was trading at $2,612 per metric ton at the end of March 2023, according to Business Insider market data. It now sits at around $10,440 per metric ton.
While government officials tout data that shows annual inflation is down to 2.4% from a 40-year high of 7% in June 2022, Americans who remember what they paid for everyday goods just three years ago aren't feeling much relief. During his State of the Union speech earlier this month, President Biden proclaimed "wages keep going up and inflation keeps coming down." "Inflation has dropped from 9% to 3% – the lowest in the world. And trending lower," he said.
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