Justice department opens investigation into soaring US egg prices

The US justice department has reportedly opened an investigation into what is driving the sharp rise in egg prices, including whether top producers have conspired to increase them, Report informs via The Guardian.

Officials are also said to be looking at whether companies have held back supply. Their investigation is in its early stages, and may not lead to any formal action, according to the Wall Street Journal, which cited sources familiar with the matter.

Egg prices have soared to record highs this year, with the cost of a dozen large eggs hitting almost $5 in January – more than two and a half times the average price three years ago, before the avian flu outbreak.