US Justice Department Investigating Rising Egg Prices
US Justice Department Investigating Sharp Rise in Egg Prices
The US Justice Department has initiated an investigation into the significant increase in egg prices, exploring the possibility of collusion among top producers to inflate prices. According to sources cited by The Guardian, officials are also examining whether companies may have intentionally restricted the supply of eggs to drive up prices.
Although the investigation is still in its early stages, it is unclear if any formal actions will result from it, as reported by the Wall Street Journal. The cost of a dozen large eggs reached nearly $5 in January, marking a record high for prices. This surge in prices represents more than a two and a half-fold increase compared to the average price three years ago before the outbreak of avian flu.
Consumers and industry analysts alike are eagerly awaiting the outcome of the investigation, as the sharp rise in egg prices has caused concern and speculation about potential market manipulation. Stay tuned for updates on this developing story as more information becomes available.
