While the discount retailer Dollar Tree may have already moved to increase its prices on most items by 25 cents, the company has now decided to stop selling eggs, as it can’t afford the recent price surge.
According to a report from Reuters, Dollar Tree announced last week that its stores could no longer afford to sell eggs to customers, who often rely on the discounted grocery products.
Inflation has continued to affect Americans’ wallets everywhere, but at the grocery store most prominently, as food prices have remained extremely high for the last year.
According to the Department of Agriculture, food prices rose by 9.9% last year, with prices for food-at-home, or food bought at the grocery store, rising 11.4%.
Most recently, the price of eggs has skyrocketed, hitting an all-time high in January following an outbreak of bird flu affecting supply. The Labor Department shared that the cost of eggs has since fallen, dropping 6.7% last month, but prices still sit 55.4% higher than a year ago.
The department also shared that egg costs jumped by 38% in February for producers. Overall, the average price for a dozen Grade A large Eggs was $4.21 last month, and Dollar Tree was selling cartons of eight eggs for around $1.25 last year.
While other retailers have the ability to raise prices for products as the market changes, Dollar Tree is not afforded the luxury, being that it sells products at its flat rate.
“Our primary price point at Dollar Tree is $1.25. The cost of eggs is currently very high,” Randy Guiler, a Dollar Tree spokesperson, told CNN.
Dollar Tree shared that it does not expect the decision to be permanent, saying that as prices return to their “historical levels,” it is expected to restock its egg inventory in its more than 9,000 U.S. stores later this year.
Dollar Tree’s other discount branch, Family Dollar, will continue to sell eggs for the time being.