While the cost of food is on the decline, breakfast lovers continue to reel from their dented wallets as the price of eggs and orange juice remain up.
Inflation has not been kind to the egg aficionados with prices as high as $7.37 for a dozen in states like California as recently as December and there are currently no signs of reprieve. Elsewhere, prices are cheaper than those in the Golden State but still expensive relative to the area. In December, the average U.S. price of eggs was $4.25
Supply chain disruptions have been identified as at least one of the issues causing prices to remain high but the avian bird flu has really wreaked havoc on the poultry industry. Right now, the market is experiencing the worst cases of bird flu and as a result more than 44 million egg-laying hens have died.
The issue is compounded when chickens that are at risk of contracting bird flu are euthanized in an effort to mitigate the spread. The New York Times reported that the depopulating of healthy birds on top of those that have succumbed to illness has slashed the nation's egg supply by more than 7 percent.
With egg demand peaking in December, customers could see a dropoff in price in the coming months.
While your scrambled eggs might cost a little less in the future, if you want to wash them down with some OJ, it will cost you.
Florida is currently experiencing its smallest citrus crop since the 1936-1937 season and it all started in early 2022. A January deep freeze in the sunshine state stunted growth of fruits, then Hurricane Ian bombarded the state and it was hit with another major hurricane in Nicole two months later in November.
The biggest culprit in the rise in cost of Florida oranges is the ongoing citrus tree disease. The disease, which causes leaves and fruit to drop prematurely, is typically spread via major rain events like hurricanes or through insects.
The U.S. Department of Agriculture anticipates around 20 million boxes of oranges to be produced this year, which is a 51 percent drop off from 2022.
A survey by the BMO Real Financial Progress Index found that 25 percent of Americans are pulling back on retirement contributions to offset the cost of inflation. This comes as market volatility reduced retirement savings with the S&P 500 shedding more than 12 percent this year alone.
Catching you up on entertainment headlines with Johnny Depp winning more damages in his defamation lawsuit against Amber Heard, Jada Pinkett Smith addressing the infamous Oscars slap that her husband Will Smith laid on Chris Rock, Queen Elizabeth II celebrating her platinum jubilee on the throne, and more.
Eric Cervini, executive producer of 'The Book of Queer,' joins Cheddar News to talk about the new show on Discovery+ that's celebrating LGBTQ+ history.
New York drag queen DD Fuego, joined Cheddar News to discuss her journey to drag, sharing the coloring book "Find Your Fuego" to explain to kids and adults alike what drag is all about, and describing the Big Apple scene. "It's incredible because you're meeting people for the first time, and you're also sharing a piece of you, and they're sharing with you back, and it's instant, and it's so intimate, but it's also art," she said. "It's theater!" In celebrating this spirit, Cheddar employee Shannon also received a "fantastic" makeover from DD Fuego.
Memorial Day rang in the unofficial start of summer here in the United States -- and with it, the unofficial start of summer travel. Whether consumers traveled by air or by land, they probably experienced some form of frustration over the weekend. Flyers faced delays and cancellations, and drivers faced the most expensive gas prices ever recorded on Memorial Day. Zach Griff, Senior Aviation Reporter for the Points Guy, joins Cheddar News' Closing Bell to discuss.
Next-generation gaming ecosystem Joystick recently raised $8 million in a seed round and is in the process of raising a $110 million Series A funding round. Gaming ecosystems are a relatively new type of platform in the Web3 space, allowing users to maximize their play-to-earn gaming opportunities, exchange crypto-currencies, and sell their digital assets. Joystick says its platform is flipping the current model on its head by giving players the opportunity to keep 100% of the revenue they earn. Robin Defay, co-founder and CEO of Joystick, and Michael Le, co-founder of Joystick and TikTok content creator, join Cheddar News' Closing Bell to discuss.
The dating app Bumble has sponsored bills and pushed lawmakers to criminalize the online practice of sending unsolicited nudes or “cyberflashing." Payton Iheme, Bumble's head of public policy for the Americas, joined Cheddar News to discuss why the app was going after the harassing behavior beyond its own platform. "Now, while we went to work internally in the company, and we created something called private detector to automatically blur those images so the user can decide if they want to see them, there's nothing for the rest of the internet," she said. "And so that's why we went to work with these laws."
'Top Gun: Maverick' making an estimated $156 million domestically for its four-day opening weekend. Daniel Loria, SVP of Content Strategy and Editorial Director at Boxoffice Pro, joins Cheddar News to weigh in on the long-awaited sequel and the summer box office.
