{"id":266692,"date":"2024-12-13T22:19:40","date_gmt":"2024-12-13T22:19:40","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/12\/13\/eggs-econbrowser\/"},"modified":"2025-06-25T17:10:03","modified_gmt":"2025-06-25T17:10:03","slug":"eggs-econbrowser","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/12\/13\/eggs-econbrowser\/","title":{"rendered":"Eggs | Econbrowser"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-54919\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-12\/us-wholesale-inflation-unexpectedly-accelerates-on-food-costs\">Bloomberg<\/a> points out eggs were big in the PPI, accounting for 80% of the y\/y rise (egg prices spiking due to <a href=\"https:\/\/www.pbs.org\/newshour\/economy\/why-are-eggs-getting-more-expensive-again\">avian flu<\/a>). I wondered what eggs accounted for in the food at home component of the CPI.<\/p>\n<p>Didn\u2019t have the CPI subcomponent for eggs handy, so I took the BLS not-seasonally-adjusted price of a dozen large grade A eggs, seasonally adjusted using moving (geometric) average and decomposed the CPI-food at home cumulative increase since January 2024.<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-54920\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix.png\" alt=\"\" width=\"835\" height=\"561\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix.png 835w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix-300x202.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix-768x516.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix-624x419.png 624w\" sizes=\"(max-width: 835px) 100vw, 835px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> CPI-food at home (s.a.), contribution from eggs (brown bar), contribution from rest-of-food-at-home (blue bar), calculated using log differences. Source: BLS via FRED, and author\u2019s calculations.<\/em><\/p>\n<p>This indicates food-at-home (aka \u201cgroceries\u201d) would be pretty close to flat in 2024 were it not for eggs.<\/p>\n<p>Calculations:<\/p>\n<ul>\n<li>2023 weight for eggs in CPI: 0.178%<\/li>\n<li>2023 CPI-food at home weight in CPI: 8.072%<\/li>\n<li>Implied 2023 weight of eggs in CPI-food at home: 2.205%<\/li>\n<\/ul>\n<p>For comparison, weight of eggs in PPI (final demand): 0.07%<\/p>\n<p>Here\u2019re consumer prices for a dozen eggs vs. PPI (final demand) for large eggs.<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix2.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-54921\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix2.png\" alt=\"\" width=\"820\" height=\"532\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix2.png 820w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix2-300x195.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix2-768x498.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/12\/eggspix2-624x405.png 624w\" sizes=\"(max-width: 820px) 100vw, 820px\"\/><\/a><\/p>\n<p><em><strong>Figure 2:<\/strong> Dozen large eggs (blue, left log scale), and PPI (final demand) large eggs (tan, right log scale), both normalized to 1980M01=1. NBER defined peak-to-trough recession dates shaded gray. Source: BLS via FRED, BLS, NBER, and author\u2019s calculations.<\/em><\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2024\/12\/eggs\" title=\"1:08 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2024-12-13T13:08:46-08:00\">December 13, 2024<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2024\/12\/eggs\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bloomberg points out eggs were big in the PPI, accounting for 80% of the y\/y rise (egg prices spiking due to avian flu). I<\/p>\n","protected":false},"author":1,"featured_media":266693,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/266692"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=266692"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/266692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/266693"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=266692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=266692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=266692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}