Let’s talk about eggs. Eggs are a staple food for many around the world and one that has changed little since 1980. Free-range, grass-fed, organic; these are all changes and improvements to the egg industry, but the underlying product is fundamentally the same.
However, the price of eggs has been far but consistent, as the data below from the St. Lois Fed indicates. The average price of eggs in 1980 was less than $1, while in 2022, the same product costs around $3, a 3x price.
Due to the impact of long-term inflation, $1 in 1980 has the equivalent in purchasing power of around $3.60 today. This increase amounts to a rise of $2.60 in the space of 42 years. Throughout this time, the Dollar had an average inflation rate of 3.09% per year, producing a cumulative price increase of 259.56%