Key Takeaways:
- President Trump displayed Tesla electric vehicles at the White House.
- Critics questioned the timing due to stock market drops and job uncertainties.
- Trump blamed President Biden for high inflation and rising egg prices.
- Egg prices have actually risen by nearly 59% over the past year.
- USDA Secretary Brooke Rollins claims egg prices are starting to drop.
President Trump recently showcased Tesla electric vehicles on the White House lawn, sparking debates about the timing of the event. With stock markets falling and many Americans worried about job security, critics wondered why Trump chose to highlight cars from a company led by his ally and major donor, Elon Musk.
Trump remained optimistic. “I think they’re going to do great,” he said, claiming that prices are dropping. He criticized the economy he inherited from President Biden, insisting that he had a strong economy during his first term. “I had no inflation. I had a great economy. He gave you high prices,” Trump remarked.
Trump even mentioned eggs, saying, “You couldn’t buy bacon, you couldn’t buy anything, and also, I inherited a situation with eggs. The price of eggs was through the roof. Well, now the price of eggs has come down a lot.”
But the data tells a different story. According to a recent Consumer Price Index report, egg prices rose by 10.4% last month and have increased nearly 59% over the past year. This makes eggs one of the most inflated items in the U.S.
The high cost of eggs is partly due to a bird flu outbreak affecting chicken supplies. Meanwhile, U.S. Secretary of Agriculture Brooke Rollins announced that the average cost of a dozen eggs has dropped by $1.85 since the USDA introduced a plan to address the issue. She also pointed to “Easter season” as a factor in higher egg prices.
Rollins shared that wholesale egg prices have fallen by about $2.60 per dozen this month. However, the USDA’s “Egg Markets Overview” report stated that lower demand caused the price drop. Despite this, Rollins recently suggested that Americans might consider raising backyard chickens to deal with the high cost of eggs.
As the debate over egg prices continues, many are left wondering how these issues will impact everyday Americans and the broader economy. For now, the situation remains uncertain.