Just before testifying at an open meeting of the Federal Trade Commission (FTC) on Tursday, Farm Action, a nonprofit campaigning against corporate influence in the farm industry, sent a letter urging the FTC “to promptly open an investigation into the egg industry” (pdf).
The price of eggs has skyrocketed in recent months, with prices up 138 percent compared to last year, according to the Bureau of Labor Statistics. The price of a dozen eggs now averages about $4.25.
A price increase was expected considering the current inflation. In addition, the U.S. Department of Agriculture pointed to an outbreak of avian flu as a reason for the high prices. Nearly 58 million birds were wiped out by the virus in the last year, causing a significant drop in egg production and inventory….