Soaring egg prices prompt demands for price-gouging probe

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — With egg prices more than doubling in the past year, calls are coming for an investigation into possible price gouging. That’s even though millions of chickens have been slaughtered to limit the spread of bird flu and farmers have been dealing with the soaring cost of feed, fuel and labor. U.S. Sen. Jack Reed sent a letter Tuesday asking for the Federal Trade Commission to investigate. The farmer-led advocacy group Farm Action made a similar request last week. But industry trade groups say prices are largely set by commodity markets and experts say the real culprit is the combination of bird flu, inflation and continued strong demand for eggs.