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Showing Original Post only (View all)Egg price spike prompts demands for price-gouging probe [View all]
Source: raw story
January 24, 2023 / 6:31 PM / CBS/AP
With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging.
U.S. Sen. Jack Reed sent a letter Tuesday asking the Federal Trade Commission to investigate whether egg prices have been improperly manipulated by producers. A farmer-led advocacy group called Farm Action made a similar request last week arguing that there "appears to be a collusive scheme among industry leaders to turn inflationary conditions and an avian flu outbreak into an opportunity to extract egregious profits."
Egg prices have soared 60% in a year. Here's why.
Customs officials are seizing eggs at the U.S.-Mexico border
The spike in egg prices has been attributed to the millions of chickens that were slaughtered to limit the spread of bird flu and farmers having to compensate for inflation driving up their costs......................
Read more: https://www.cbsnews.com/news/egg-prices-price-gouging-senator-jack-reed-probe/
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