Your breakfast just got a lot cheaper with prices of eggs and bacon plunging 27% amid cooling US inflation

• Breakfast just got way cheaper for Americans thanks to tumbling eggs and bacon prices.
• The cost of a dozen eggs and a pound of bacon has plunged 27% to $8.44 from a peak hit in January.

Having a nice breakast hasn't been the cheapest choice for Americans over the past year amid historically high inflation. But thanks to rapidly cooling prices, they can now enjoy the simple pleasure without breaking the bank.

The cost of early-morning staples, including eggs and bacon, has dramatically fallen in recent months as inflation continues to slide, markets expert Charlie Bilello pointed out in a tweet on Wednesday.

Bilello, who serves as chief market strategist at Creative Planning, noted that the price of a dozen eggs and a pound of bacon has tumbled 27% to $8.44 from a peak of $11.63 in January.

Meanwhile, the average price of a dozen eggs has fallen to $2.22, marking a 54% plunge from a peak of $4.82 reached in January. Costs for the same had surged 60% in 2022.

While a crippling outbreak of bird flue squeezed egg supplies and elevated prices at the start of the year, the overarching cost booster for both eggs and bacon has been the high inflation levels in the US.

But the Federal Reserve's interest-rate increases, which boosted benchmark borrowing costs by 500 basis points since early 2022, has helped bring prices of some food items back down to earth.

Data showed US annual inflation measured 3.0% in June – the lowest level in more than two years – showing the Fed's fight against price pressures is clearly working.

Whether it's for grabbing Sunday brunch with friends, or cooking up a feast at home, cooling inflation has finally created a hallelujah moment for breakfast lovers.