Egg Pricing a Bit Scrambled

Egg Pricing a Bit Scrambled

(FinancialHealth.net) – COVID-19 is leading to a war over eggs. That’s right, the food we all love for breakfast is causing big conflicts. In the last week, there have been two lawsuits filed accusing companies of raising the cost of the kitchen staple and price-gouging consumers.

On April 23, Texas Attorney General Ken Paxton sued Cal-Maine Foods over alleged price gouging.

Paxton claims the nation’s largest egg producer is taking the people of Texas to the cleaners and charging 300% more for the product “because it can.” According to the filing, the company was charging about $1 per dozen before the pandemic, now the same package costs over $3. The state is asking for $10,000 per violation, $250,000 if the consumers who purchased the eggs are over age 65.

On April 20, California consumers filed a class-action lawsuit against Trader Joe’s, Whole Foods, Costco and other grocery stores for the same thing.

Customers have accused the major grocers of dramatically increasing the price of eggs after Governor Gavin Newsom’s emergency declaration on March 4.

If these companies have all raised the prices of eggs to make money off consumers who are already struggling, that’d be shameful. At times like this, we should be able to trust we’re not going to be ripped off at the grocery store.

~Here’s to Your Financial Health!

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