Ticker: Fake eggs an option this Easter; Wholesale inflation fell in March

With egg prices stubbornly high, the internet has offered up a host of alternatives, with crafters painting rocks and influencers dyeing everything from marshmallows to potatoes.

“Finally a use for B sized potatoes!!” one commenter wrote in response to a video posted on Facebook.

But amid the laughing emojis, LOLs and people simply posting “huh,” there has been a lot of interest from price-conscious parents as U.S. egg prices increased again last month to reach a new record high of $6.23 per dozen. Relief could be coming: There is evidence that prices are falling, and grocery stores may start offering discounts to get shoppers in the door.

The craft retailer Michaels said their craft egg kits are flying off the shelves. Sales of two of the kits are up 20% compared to the same time last year, said Melissa Mills, senior vice president and general merchandising manager at Michaels.

Wholesale inflation fell in March

U.S. wholesale prices fell last month in another sign that inflationary pressures are easing.

The producer price index — which tracks inflation before it hits consumers — fell 0.4% from February, first drop since October 2023, the Labor Department said. Compared with a year earlier, producer prices rose 2.7%, down from a 3.2% year-over-year gain in February and much lower than the 3.3% economists had forecast. Gasoline prices fell 11.1% from February and egg prices, which had skyrocketed because of bird flu, plummeted 21.3%.

Excluding volatile food and energy prices, so-called core wholesale inflation fell 0.1% from February, the first drop since July.

The report came a day after the Labor Department delivered good news on inflation at the consumer level. Its consumer price index rose just 2.4% last month from March 2024, the smallest year-over-year gain since September.

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