Inflation rates may be cooling down, but that doesn’t mean breakfast prices are all going in the same direction. While some favorites like bacon and eggs have become more affordable, other breakfast staples are becoming pricier.
Bacon vs. Ham: A Tale of Two Pork Products
Surprisingly, bacon and ham, both made from pork, are moving in opposite directions when it comes to prices. Bacon prices have been on a steady decline since last summer, dropping 10% in June compared to the previous year, according to the Bureau of Labor Statistics. On the other hand, ham prices have risen by 4.7% over the same period.
It’s worth noting that despite these changes, both bacon and ham remain more expensive than they were before the pandemic. Bacon prices have increased by 12.9% since January 2020, while ham prices have gone up by 20.2%.
The Cost of a Sandwich
If you enjoy a ham and cheese sandwich for breakfast, beware: it’s becoming less of a bargain. While ham prices are going up, bread prices are also on the rise. In June alone, bread prices increased by 0.7%, making them 11.5% more expensive than they were a year ago. The main driver behind this increase is higher flour costs. Consequently, bakery goods like cookies, cakes, and crackers have also become pricier compared to last year.
The Roller-Coaster Ride of Egg Prices
Egg prices have gone through their own ups and downs recently. In 2022, avian flu outbreaks caused a significant spike in prices as supplies dwindled. However, since the beginning of this year, egg prices have been falling. In June, eggs were 8% cheaper than they were a year ago, though still 27% higher than pre-pandemic levels.
Dairy Products: A Decline in Prices
Good news for dairy lovers: prices of certain dairy products have been dropping. Fresh whole milk prices have seen a sharp decline since February and are now about 4% cheaper than they were a year ago. Cheese prices have also been decreasing, albeit at a slower pace. As of June, cheese-related products are roughly 1% more expensive than they were last summer. However, compared to pre-pandemic levels, milk and cheese remain 19% and 14% more expensive, respectively.
Fruit: Choose Wisely
Fruit is often seen as a healthy breakfast option, but it’s important to select carefully to stay within your budget. While orange prices have fallen by 5.6% from a year ago, apple prices are on the rise, now 4.5% more expensive compared to June 2022.
It’s clear that breakfast prices are a mixed bag, with some items becoming more affordable and others increasing in cost. As consumers, it’s important to make informed choices while keeping an eye on your wallet.