
And it's not just egg prices that have fallen over the last 100 years. Grocery prices in general fell in real price by 82% between 1919 and 2007, measured in the number of hours worked (9.5 to 1.7 hours, another way to adjust for inflation) to purchase a 12-item basket of groceries, according to the Dallas Fed (see graph below).
And food (both at home and away from home) as a share of disposable income has never been more affordable, see the chart below using USDA data through 2007. Food expenditures as a percent of income were in double-digits for the entire 20th century, and were above 20% for most of the 1929-1952 period. It's only since 2000 that spending on food has fallen below 10% of disposable income, and it's been 9.8% for 2005, 2006 and 2007.
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