It’s the ‘eggconomy’, stupid. Can food inflation topple Trump?

The surging cost of eggs in the States is a key indication of “economic catastrophe and an inflation nightmare”, US president Donald Trump told Congress on Tuesday, a predicament he blames predecessor Joe Biden for.

Americans are spitting feathers over egg inflation, with the price of a dozen large ones hitting almost $5 (€4.61), a rise of 54% on last year.

Not only is this a record high, it also tots up to an 157% increase over three years – in 2022, prices sat at $1.46 (€1.35) a dozen. Reports suggest 12 eggs can cost as much as $14 (€12.90) in New York City.

Trump is trying to get a handle on the situation, pumping $1bn into tackling the bird flu pandemic, the main driver of the egg price turmoil.

The US has got bird flu bad, with some experts suggesting millions of laying hens have been slaughtered since the outbreak began last year, making supply an increasingly difficult task. In parts of the States, the virus has also jumped to cattle.

The cost of US food and drinkThough it’s not only eggs. Food prices overall have been increasing, in 2023 rising by 5.8%. But between last December and this January, grocery prices rose 0.8%, putting them 1.9% higher than in January 2024, US Department for Agriculture (USDA) figures for February show.

And that’s not all; this year food prices in the States are expected to continue rising, “faster than the historical average rate of growth”, says the USDA, predicting a 3.4% food price increase for the year.

Though Trump has acknowledged the severe food inflation problem, he’s yet to give the issue the same attention he’s given to geopolitics.

Also read → Will egg prices come down under Trump? “Unless governments impose price caps, it’s not easy to affect food prices in the short term,” says Thomas Sampson, associate professor in the department of economics at the London School of Economics.

A long-term strategy to bring the price of eggs down, he says, would be to increase supply, though this method takes time.

And for eggs, there is no quick win. The US is battling one of the most severe cases of bird flu, and importing eggs is proving tricky too.

US food and drink price hikesPrices outside of food and drink could rise too, a symptom of Trump’s trade tariffs. So why is he committed to the tariffs if they could denigrate his promise to bring down the cost of living?

“Trump seems to believe that higher import costs is a price worth paying to reduce imports and protect US firms from competition,” explains Sampson.

Though taxes on imports always increase the price of imported goods, in turn ramping up the cost of living for consumers.

“Economists generally expect Trump’s tariffs to be bad for the US economy overall,” says Sampson. “Some firms may benefit from reduced competition, but these gains will be offset by higher import costs?”

So, while Trump is being the global disruptor – putting himself and America in the global headlines at the same time – he has yet to tackle the thing many Americans will feel the most: higher everyday costs.

Could the price of eggs topple Trump? Who’s to say? Anything seems possible right now.