PEORIA, Ill. (WMBD) — Egg prices have more than doubled in just a month and with that increase comes a struggle for small businesses.
“Compared to last year, it’s about a 30% increase so far,” said part owner of Le Bakery Kevin Palermo.
“Having the eggs go from $2 a dozen to $5.50 a dozen totally undermines our bottom line,” said Trefzger’s Bakery owner Jeff Huebner.
While both bakeries are waiting for the egg prices to drop, Le Bakery in Peoria thought outside the box to bring in new customers to balance the cost of the increase.
“Luckily we’ve been able to kind of keep those costs at bay because we’ve been bringing out some new product that brings more clients in so that we would get our sales up a little bit,” said Palermo.
Although the main focus in grocery stores currently is the increase in egg prices, those increases are happening on other products, as well.
“Our flour prices have gone up. Our sugar prices have gone up. Our butter prices have gone up. So pretty much everything has gone up,” said Huebner. “From January 1st last year until January 1st this year, almost all of our prices have gone up almost 20 to 25%. Some of them have actually doubled in price.”
Despite these price increases, both bakeries are planning on keeping their prices the same for their customers.
“It doesn’t make any sense to raise our prices for six months and then bring it back down,” said Huebner. “So we kind of take the hit for a little while and then and then the water smooths back out.”
Palermo explained, “We’ll be trying to hold off as much as we can before we start increasing prices because just like COVID, it’s a wave that we have to ride.”
Around the region, here’s a list of prices for a 12-count carton of large A-Grade eggs:
- Bloomington’s Walmart on Market Street: $5.22
- Morton’s Kroger on Jackson Street: $4.99
- Pontiac’s Dollar General on Reynolds Street: $3.95
- Washington’s Lindy’s Downtown Market on Peoria Street: $5.99