Inflation has been driving the cost of living way up. And that extends to everything from utilities to apparel to food.
In February, grocery prices were up 10.2% on an annual basis, according to that month's Consumer Price Index summary. And while egg prices fell 6.7% in February compared to January, they're still about twice as expensive as they were a year ago. It's for this reason that Dollar Tree has made the decision to stop carrying eggs -- at least for the time being.
A necessary business decision
Dollar Tree prides itself on its low price points. Most of the items it sells retail for $1.25 -- not $1. But select items are priced even higher.
However, Dollar Tree doesn't like to stray from its $1.25 price point all that much. And at this point, it can't sell eggs for a price it's comfortable with. As such, the discount store chain has made the decision to pull eggs from its shelves for now, and it will look at reintroducing them in the fall. The hope is that prices will have come down by then.
In February, the average cost of a carton of a dozen eggs was $4.21. That's an improvement from January, when the same purchase would have resulted in a credit card tab of $4.82. But back in February of 2022, you could buy eggs for about $2 a carton. So right now, a lot of consumers are feeling the strain, since eggs are such a staple item.
How to combat higher egg and grocery prices
It's not just eggs that have inflated prices right now -- it's groceries in general. So if you're struggling to keep up with your costs, and you're tired of having to dip into your savings account just to put food on the table, then a little strategic shopping could go a long way.
For one thing, you may not be able to buy eggs at Dollar Tree. But you can look to Dollar Tree for other low-cost groceries and household staples.
It also pays to try buying in bulk when it comes to products you consume frequently in your household. If you eat a lot of eggs, see if your supermarket carries a discounted bulk carton. And warehouse club stores like Sam's Club and Costco commonly have eggs in stock. You might pay more than you would've a year ago, but if you buy your eggs in bulk, they might cost less per unit.
Finally, if you're really struggling with the cost of eggs, try cutting back on them. Many baking recipes, for example, can be adjusted to become egg-free (though you might end up paying a comparable price for certain substitutes).
That said, for many people, eating eggs less frequently is pretty difficult. But remember -- you might be spending an extra $2 or $2.50 for a carton of eggs now, but that's comparable to the cost of a single store-bought coffee. So if you're struggling with higher egg and grocery prices but you buy coffee twice a week, cutting those purchases in half could help make up the difference, as least as far as eggs are concerned.
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