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How Much Money Consumers Leave on the Table by Not Shopping for the Best APYs on Checking and Savings Accounts


Written by Julie Ryan Evans | Published on 12/5/2022

 

Unless you love leaving money on the table, there's no reason not to shop around for financial products. Whether your mama told you to or not, it pays to explore your options, particularly for checking and savings accounts.

The newest DepositAccounts study examines how much consumers can save — or leave on the table — by shopping (or not shopping) for the best annual percentage yield (APY) on checking and savings accounts, and the numbers are significant. For example, with balances of $1,000 to $25,000, the difference between the lowest and highest checking account APY could mean an additional $51 to $965 in a year.

"Interest rates can vary substantially, especially in today's interest rate environment in which the Fed has raised its benchmark rate to its highest level in more than a decade," says Ken Tumin, DepositAccounts founder. "Banks make money off of customers who don't monitor their interest rates."

In this article, we'll cover:

 

Key findings

  • Shopping for the best APY on a checking account can boost your balance by as much as 5.1% in a year and 64.5% in 10 years. This is based on a Nov. 3 analysis of checking account rates on DepositAccounts, with APYs ranging from 0.01% to 5.00% on certain deposits. (Read our methodology for more explanation.)
  • With balances of $1,000 to $25,000, the difference between the lowest and highest checking account APY can result in an additional $51 to $965 in a year and $646 to $11,685 in 10 years. It stands to reason that consumers with larger (and longer) balances will see the biggest monetary increases, but it pays to shop no matter how much you have in your account.
  • High-yield savings accounts typically offer higher APYs than checking accounts, but the boost from shopping for the best APY is lower in this analysis. This is because a single institution offered a 5.00% APY on checking account balances up to $10,000. Meanwhile, the largest APY during our analysis of savings account rates was 3.50%, while the lowest APY was 0.01%. This equates to a balance boost of up to 3.6% in a year and 41.7% in 10 years.
  • Using these high-yield savings account rates, the difference between the lowest and highest APYs can result in an additional $35 to $887 in a year and $417 to $10,434 in 10 years. With inflation up 7.7% year over year, every dollar helps.
  • Despite the clear benefits of shopping for the best APY on a checking account or savings account, only 43% of Americans say they've done so. This is highest among Gen Zers (51%), residents in the West (48%) and six-figure earners (47%).

How we conducted our analysis (explanation and methodology)

Researchers analyzed the DepositAccounts database of 127 standard checking account and 193 high-yield savings account offerings. We found the lowest and highest APYs for both account types as of Nov. 3, 2022. (APYs may change at any point, so it's important to reiterate our analysis was conducted Nov. 3.)

We looked at four balance amounts — $1,000, $5,000, $10,000 and $25,000 — and assumed one deposit at the beginning of one and 10 years, compounded monthly with no additional contributions.

To determine the value of shopping for the best APY, researchers calculated the balance after one year and 10 years based on the four balance amounts and the lowest and highest APYs. Researchers then calculated the difference by dollars and percentage.

Separately, DepositAccounts commissioned Qualtrics to conduct an online survey of 2,033 U.S. consumers ages 18 to 76 on Oct. 18, 2022. The survey was administered using a nonprobability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality control.

We defined generations as the following ages in 2022:

  • Generation Z: 18 to 25
  • Millennial: 26 to 41
  • Generation X: 42 to 56
  • Baby boomer: 57 to 76

 

How much you can save by shopping for the best APY on a checking account

First, let's talk checking accounts in the DepositAccounts database, which have widely varying interest rates ranging from 0.01% to 5.00% (as of Nov. 3, 2022). Do those rates make that big of a difference? You bet they do — especially over time, and more so with greater balances.

Say you take the first checking account you see with a 0.01% APY. If you deposit $10,000, you'll earn $1 in the first year. Better than nothing, but if you had shopped around for a checking account with the highest APY of 5.00%, you'd have earned $512 in the same year, which is much better than nothing. After 10 years, you'd earn an extra $6,460 — 64.5% more than the one with the lowest APY.

If you up the ante and deposit $25,000 in an account with the best APY, you can boost your balance by $965 (or 3.9%) after a year and by $11,685 (46.7%) after 10 years than if you had put it an account with the lowest APY. This is despite a lower APY with a $25,000 account balance, as the institution with the 5.00% APY offering capped out at $10,000 as of Nov. 3.

Even with smaller balances over a year, there's money for the taking … or leaving. For example, if you deposit $1,000 in an account with the best APY, you'll earn an extra $51 after a year — a 5.1% increase — over what you would have if you put it in an account with the lowest APY. Over 10 years, you could earn $646 more, an increase of 64.5%.

The average Federal Deposit Insurance Corp. (FDIC) checking deposit rate — as of Oct. 17, 2022 — was 0.04%, which only boosts the balance on a $10,000 account by $4 in one year. But why settle for average when there's money to be made with better APYs?

Details: How shopping for the highest APY on a checking account can boost your balance
1-year look
Account balance Lowest available APY FDIC average Highest available APY Balance after 1 year with lowest APY Balance after 1 year with FDIC average Balance after 1 year with highest APY $ difference between lowest and highest % difference between lowest and highest
$1,000 0.01% 0.04% 5.00% $1,000 $1,000 $1,051 $51 5.1%
$5,000 0.01% 0.04% 5.00% $5,001 $5,002 $5,256 $255 5.1%
$10,000 0.01% 0.04% 5.00% $10,001 $10,004 $10,512 $511 5.1%
$25,000 0.01% 0.04% 3.00% $25,003 $25,010 $25,968 $965 3.9%
10-year look
Account balance Lowest available APY FDIC average Highest available APY Balance after 10 years with lowest APY Balance after 10 years with FDIC average Balance after 10 years with highest APY $ difference between lowest and highest % difference between lowest and highest
$1,000 0.01% 0.04% 5.00% $1,001 $1,004 $1,647 $646 64.5%
$5,000 0.01% 0.04% 5.00% $5,005 $5,020 $8,235 $3,230 64.5%
$10,000 0.01% 0.04% 5.00% $10,010 $10,040 $16,470 $6,460 64.5%
$25,000 0.01% 0.04% 3.00% $25,025 $25,100 $36,710 $11,685 46.7%
Source: DepositAccounts analysis of internal database and Federal Deposit Insurance Corp. (FDIC) data. Notes: This chart assumes one deposit at the beginning of the one- or 10-year period, with interest compounded monthly. Rates may change at any point.

3 things to look for in a checking account

While interest rates are important, they're not the only factor to consider when you're shopping for a checking account. Other considerations should include:

  • Fees: Even more important to compare than interest rates may be the fees a checking account may — or may not — charge. "For the average consumer, fees can be the most important thing for a checking account," Tumin says. "Avoid checking accounts that have any monthly fees. Sometimes a bank will allow you to waive monthly fees with certain balance requirements or with direct deposit. That may be easy to meet when you have a job, but if you lose your job, it may not be easy to meet, and that's the time when you can least afford the monthly fee."
  • Rewards and bonuses: Some checking accounts offer debit card rewards programs, usually in the form of cash back on purchases you make. That sounds great, but don't be blinded by rewards as they often require you to meet certain requirements, such as making a minimum number of purchases a month and/or come with annual account fees.
  • Ease of use: Do you prefer to do banking in a physical branch or are you always searching for an ATM? Maybe a mobile app is most important to you. Make sure you choose a checking account that is easy to use in the ways you most want to use it.

How much you can save by shopping for the best APY on a high-yield savings account

The same type of hefty differences in returns on your money can be found if you shop around for savings accounts with the best APYs. Currently, interest rates are on the rise as the Fed continues to increase its benchmark rate.

According to the FDIC, the national average APY on savings accounts was 0.21% as of Oct. 17, 2022. That's a 23.5% increase from the previous month's average APY of 0.17% on Sept. 19, 2022. Ten years ago on Oct. 21, 2012, the national average APY was 0.08%.

Again, why settle for average? Savings account APYs in our study ranged from 0.01% to 3.50%. That means if you deposit $1,000 in an account with the lowest APY, you wouldn't even earn a full dollar in interest in a year. But, if you choose the one with the highest APY, you would earn $36 in a year.

And the differences are typically more significant with the more money you have in your account. For example, if you deposit $10,000 in a savings account with the lowest APY, you would increase your balance by $1 in a year. If you instead shopped around and deposited the same amount in a savings account with the highest APY, you would boost your balance by $356 — a $355 difference in one year.

Details: How shopping for the highest APY on a savings account can boost your balance
1-year look
Account balance Lowest available APY FDIC average Highest available APY Balance after 1 year with lowest APY Balance after 1 year with FDIC average Balance after 1 year with highest APY $ difference between lowest and highest % difference between lowest and highest
$1,000 0.01% 0.21% 3.50% $1,000 $1,002 $1,036 $35 3.6%
$5,000 0.01% 0.21% 3.50% $5,001 $5,011 $5,178 $177 3.6%
$10,000 0.01% 0.21% 3.50% $10,001 $10,021 $10,356 $355 3.6%
$25,000 0.01% 0.21% 3.50% $25,003 $25,053 $25,889 $887 3.6%
10-year look
Account balance Lowest available APY FDIC average Highest available APY Balance after 10 years with lowest APY Balance after 10 years with FDIC average Balance after 10 years with highest APY $ difference between lowest and highest % difference between lowest and highest
$1,000 0.01% 0.21% 3.50% $1,001 $1,021 $1,418 $417 41.7%
$5,000 0.01% 0.21% 3.50% $5,005 $5,106 $7,092 $2,087 41.7%
$10,000 0.01% 0.21% 3.50% $10,010 $10,212 $14,183 $4,173 41.7%
$25,000 0.01% 0.21% 3.50% $25,025 $25,531 $35,459 $10,434 41.7%
Source: DepositAccounts analysis of internal database and FDIC data. Notes: This chart assumes one deposit at the beginning of the one- or 10-year period, with interest compounded monthly. Rates may change at any point.

3 things to look for in a savings account

There are several things beyond interest rates to consider when looking for a savings account. Online savings accounts typically offer among the highest savings account APYs, so our tips skew in that direction:

  • Transfer services: Ensure that the online bank makes it easy to link your checking account to the online savings account and makes it easy to electronically transfer funds with no fees back and forth. "Not all online banks offer an electronic transfer service," Tumin says. "Those that do may charge a fee or have small transfer limits."
  • Bonuses: Bonuses can be, well…a bonus for a good savings account, but don't be too quick to pick an account based on them alone. Make sure you understand everything involved, including requirements to receive the bonuses, as well any tax implications.
  • Free checking accounts: When looking for an online savings account, look for online banks that offer free checking accounts. "You don't have to immediately move your checking account to the online bank, but the online checking account can provide you another checking account option," Tumin says. "Several online banks offer free overdraft transfers on their checking accounts. If your checking account balance goes negative, a free overdraft transfer automatically takes place to keep the checking account balance positive."

What shopping for APYs can do for Americans with the median bank account balance

Not everyone has a checking or savings account. In fact, according to the FDIC, 4.5% (or 5.9 million) of U.S. households were "unbanked" (i.e., they had no checking or savings account) in 2021.

For those who do, however, the median balance sits at $5,300, according to 2019 data from the Federal Reserve (the latest available). The impact of varying APYs on this amount is similar to the findings in the chart above where we looked at a $5,000 balance, but we wanted to show exact figures based on the median.

First up, checking. Having a balance of $5,300 in a checking account with the best possible rate could mean $271 more at the end of one year than if you put that same money in an account with the lowest APY. As for savings, if you keep $5,300 in an account with the lowest rate for one year, you'll grow your account by $1. If you keep it in the account with the best possible rate instead, you'll bring in $189— a $188 difference.

Details: How shopping for the highest APY can help those with the median bank account balance in the U.S.
1-year look
Type Account balance Lowest available APY FDIC average Highest available APY Balance after 10 years with lowest APY Balance after 10 years with FDIC average Balance after 10 years with highest APY $ difference between lowest and highest % difference between lowest and highest
Checking $5,300 0.01% 0.04% 5.00% $5,301 $5,302 $5,571 $271 5.1%
Savings $5,300 0.01% 0.21% 3.50% $5,301 $5,311 $5,489 $188 3.6%
10-year look
Type Account balance Lowest available APY FDIC average Highest available APY Balance after 10 years with lowest APY Balance after 10 years with FDIC average Balance after 10 years with highest APY $ difference between lowest and highest % difference between lowest and highest
Checking $5,300 0.01% 0.04% 5.00% $5,305 $5,321 $8,729 $3,424 64.5%
Savings $5,300 0.01% 0.21% 3.50% $5,305 $5,412 $7,517 $2,212 41.7%
Source: DepositAccounts analysis of internal database and FDIC data. Notes: This chart assumes one deposit at the beginning of the one- or 10-year period, with interest compounded monthly. Rates may change at any point.

We've highlighted what Americans can save, but are they doing this?

We know what kind of interest Americans can earn by shopping for the best checking and savings accounts, but the question is if they're doing it. The answer: Not the majority of the time.

Only 43% of respondents in our survey of more than 2,000 Americans say they shop around for the best interest rates for their checking or savings accounts. Men are a bit more likely than women to do so — 46% versus 40%. Meanwhile, younger generations are significantly more likely to than older generations, with 51% of Gen Zers (ages 18 to 25) and 46% of millennials (ages 26 to 41) saying they shop around, versus just 39% of Gen Xers (ages 42 to 56) and 34% of baby boomers (ages 57 to 76). But there's still a lot of money being left on the table by a lack of shopping across the board.

What about once people put their money in a checking or savings account: Is it there for good, or do they continue shopping and move their money from time to time? Sometimes. Half (50%) of consumers with checking or savings accounts report switching banks, but that still leaves half who let their money sit still when there may be better interest rates elsewhere. The top reasons for not bank-hopping include:

  • Loyalty to their bank (47%)
  • The inconvenience of doing so (29%)
  • The benefits their bank provides (23%)

Not doing so and not making sure your APY is the highest means you're likely leaving money on the table.

"You may be earning much less interest than you could earn by moving your money to a higher rate account," Tumin says. "That's especially important in today's interest rate environment. Some people may be reluctant to do this if they don't want to spend the time and effort, but with higher interest rates, there's more money to gain by switching."

Related Pages: banking tools and data
Comments
sams1985
  |     |   Comment #1
Wow, loyalty to their bank 47%...that's surprising. I hope their bank equally values them as customers. (sarcasm)
milty
  |     |   Comment #3
It almost always pays to shop around. However, I must admit I used to do most of my banking locally (not that surprised by that 43%) till I discovered sites like Deposit Account, where DA is the stand out site for quickly getting the latest news on rates and strategies. So, I suggest anyone with a savings or checking account start reading DA, and then get themselves a hub account to move money as quickly and cheaply as possible. It's a great way to help beat inflation and save for your future.
sharon907
  |     |   Comment #5
Shopping and banking local is deal. Supporting your own community.

However, there is truth that nice guys finish last, and loyalty to most companies is a potentially costly mistake. The companies I do feel loyal to are Aldi, Target, Honda, Toyota, and Menards (privately owned, most profitable big box home store).  All of these are long-established, low-cost, high-quality providers.  Can't think of any recently established companies that I feel compelled to support.

For several years, my state had the highest certificate rates nationally. Not any longer.
melsher14
  |     |   Comment #4
Got on my bank’s website. In the search bar, put the word loyalty, received nothing found response.
Went to bank’s bylaws and disclosures, couldn’t find the word mentioned at all. What u do find out is all the ways your bank can **** u and nickle and dime u out of your hard earned money!
Every time I go into my Citibank branch, or call them, the rep never fails to mention how much Citibank appreciates me for being such a longtime and loyal customer and asks how may they help me. I never fail to reply, forget about the thank you, give me some competitive APY’s. No response!
Those 47% who replied Loyalty, should be more loyal to their family and themselves out get the best bang for their buck!
P_D
  |     |   Comment #6
The results of the study are interesting but not at all surprising. The retail banking deposit market is probably one of the most inefficient markets and probably the largest inefficient market in the world.
It is lacking the key critical elements (informational, functional and operational) that make efficient markets possible.

A site like DA would not exist if the deposit account market was efficient. It's a narrowly scoped substitute for part of the informational price discovery that an efficient market would provide.

I think the major banks would freak out if the retail banking market became efficient. They count on a lack of price transparency to attract retail deposits at well below market rates. An efficient market would pull the rug out from their retail deposits and profits.
calwatch
  |     |   Comment #7
There are a lot of people that like convenience and don't necessarily need the highest rate, or they want local branches. Even Chase, Bank of America, and Wells Fargo are starting to pay 3% on CD's now, which is good enough for many people. Ally, Marcus, Discover, etc. at 3%+ is probably enough for a lot of people where the 4 or 5% wouldn't make a much of a difference. There is a big jump from going from a checking or savings account at the Big Four paying 0.01% or community bank at 0.5% to 3% at a big online bank, but to go from 3 to 4.50% and have to shift your money around may be a pain to them.
sams1985
  |     |   Comment #10
Yeah, i recently saw a local article where the title was that CD rates are at astoundingly high levels right now...i clicked only to see the author discussing 3% CD's. Go figure.
Kaight
  |     |   Comment #8
I don't think most of us would challenge the notion that rate shopping is profitable. Heck, Ken has built a successful career on that fact.

But this piece completely ignores, it does not even mention, the roadblocks, frustrations, and disruption posed to shoppers by ChexSystems and EW. That omission is unfortunate.
sams1985
  |     |   Comment #9
It's also a lot more complicated when you're playing with a sum much higher than 25,000.
P_D
  |     |   Comment #11
The entire process of setting up accounts at different banks is a major impediment to bank shopping. The process is inconsistent from bank to bank and frequently difficult to get accurate information about from their representatives, time-consuming (sometimes extremely so), poses security risks and risks to your credit (sometimes undisclosed and hard to find out about an advance), and sometimes takes so long that you miss deals.

For the amount of funds that many investors have in banks the extra money they might earn through the process of moving it around from bank to bank is not worth the time, effort or risk.

And for investors with very large amounts, I'm talking multimillions, the retail banking deposit industry is not geared towards accommodating them and the process can be even more daunting.
fdic
  |     |   Comment #12
You summed it really well. I dont know how many hours I have wasted chasing WT's that dont go through on time or ACH transfers that seem to lock out the account out of the blue.

on top of all that, we have cartels like Chex systems which dings you if you have too many "inquiries". In any rational place, everyone will be like wtf, the bank is the borrower here. We should be checking bank's credit history.

SaveBetter is trying to fill this exact gap, trying to make opening new accounts and moving money seamless but they have their own drama
JeffinEasternFL
  |     |   Comment #13
It's a PIA to change banks but, to park savings I've found in high interest environment, both high and low as well Merchants Bank of Indiana stays in the top 10%~ all the time! I used to chase leaders but, they always faded fast. MBOI really makes it easy. Plus, they FDIC cover up to $1M in deposits and you can easily deposit/withdrawal monies via your external linked bank in ONE business day. And the checks if ya want 'em are free too! They answer the phone promptly IN the USA at the respective branches too and answer emails in a day. Bravo!! Probably would make a great full-service bank as well but for parking money you can't beat the Money Market Checking Account!!
fdic
  |     |   Comment #15
What are you talking about? I told them I need 3 accounts with separate beneficiaries and their answer was they will pull 3 chex systems and then they they rudely hung up. To hell with MBI
JeffinEasternFL
  |     |   Comment #17
All I can say after a year ish, I get handwritten notes, fast replies and never an issue with anything! Try a different branch?...
fdic
  |     |   Comment #18
May be thats the difference, you are dealing with a branch and we are just anonymus online customers? Not sure. That Marie or whatever her name is thinks she is doing you a favor by answering your question
Kerry2
  |     |   Comment #14
Such claims in a surveys are always paid advertisements. It is oxymoron to be a loyal to a bank, they could care less for the customers. Just try to send a big amount in a wire or complain about anything, you will be marked as bad customer and your account(s) closed. Read the disclosure agreement in any bank, they are portrayed as gods and the customer is sheeple. They own our money, we are on their mercy for anything and asking for a service, creates a problem to them.

How many times they have frozen our accounts due to no fault from the customer?
Ask yourself, why they behave like it is their money in the deposit accounts and not ours.
Chasing the manager and begging him/her to unlock our money, (being locked for no reason), makes the bank superior being compared to the customer.
Speaking of the enemy within, you are looking at it. Loyalty is non existent.
fdic
  |     |   Comment #16
Agree with you 100%. They complaint their is too much regulation but the thing is these banks do whatever they want and get away with it. I have so many cases where their flat out lie in their responses to CFPB/FDIC/NCUA and what not and they dont even care
LovinSomeCDs
  |     |   Comment #19
Good rule of thumb to live by.. Put your CD/Sav/Cash, stuff that involves a few transactions per year, with a decent sized local credit union, and then put your credit card/checking account, stuff that has daily activity, with a big name bank, and keep the balance low, under 5k. The big name banks usually do have the best technology for daily transactions, and ALWAYS have the best credit card point system. I know its because they make their billions off of the other people who dont know any better, the people who actually carry a credit card balance, the people who overdraft, the people who pay for money orders and such, but thats not my problem. Their technolgy is usually the best when it comes to fraud too, so they are usually on top of any weird charges from out of state/country. The local credit unions will always have the best rates for your liquid, but they also dont have 50 million members and the income to pay for all that fancy tech.
hampshire
  |     |   Comment #20
Meh......It's a pain to jump from bank to bank looking for rates.......and usually the bank you thought had the highest rate will either drop or get beat out by another.......No thanks I will just find a good one that has consistently decent rates like Redneck and stick with it.
max100
  |     |   Comment #21
iam loyal to high APY.
P_D
  |     |   Comment #22
Went grocery shopping today and bought some eggs.

I was astounded by the price so just for a thrill I looked at a receipt I had at the same store in late 2020. They were more than three times the price. That's about a 100% increase per year.

I suddenly got depressed about locking in long-term losses to this inflation monster at 4.x% per year.

I seek the elusive 100% APY CD just to break even and prevent my life savings from being further gutted as it has been for the last 2 years.

We were told inflation was transitory. If your savings was in CDs the last 2 years, it's now been gutting the value of that savings for most of that time. And you'll never be getting that money back. At what point does it become not transitory?

Still waiting to see the post about the elusive 100% APY CD.
Mak
  |     |   Comment #23
Try and buy cage free eggs, specialty eggs don't price off the same market as commodity eggs... cage free would be your best price right now.

Bird flu typically arrives during the spring migration and disappears by the summer, experts said. But this year was different; the virus reemerged in September.
In October, the Agriculture Department revised its production forecast for table eggs downward for 2023 and the remainder of 2022 following “September detections” of bird flu.
That avian flu flare-up — and its associated death toll for egg-laying hens — is running headlong into peak demand season, when consumers use more eggs for holiday baking, experts said.
Consumer demand for eggs has also been buoyed by a pivot away from some higher-cost proteins amid broader food inflation, the Agriculture Department suggested in an October outlook report.
Elevated egg prices “could last into the first quarter of 2023



The wholesale price of chicken breast has fallen below $1.20 a pound, a third of its peak around $3.60 over the summer, for example, Lapp said.
Chickens raised for meat consumption — known as “broilers” — aren’t affected by avian flu to the same extent as the “layers.”
“It’s two totally different styles of production, two totally different breeds of bird,” Moscogiuri said. The life cycle of a broiler is much shorter — anywhere from 5.5 to 9 weeks, from hatch to
slaughter, according to Vencomatic Group, a poultry consulting firm.
However, the life cycle for an egg-laying hen can be upwards of 100 weeks, Moscogiuri said. It can take about five to six months for layers just to reach full productivity, according to the Agriculture Department.
The latter are therefore more susceptible to bird flu since farmers must keep them alive for a longer time, experts said.
Broiler quantity is also up, contributing to lower chicken prices at the grocery store.
P_D
  |     |   Comment #24
I did buy cage free eggs. They were the same price as the other eggs. More than three times what they were 2 years ago.

"...the Agriculture Department suggested in an October outlook report.
Elevated egg prices “could last into the first quarter of 2023""

Isn't that department under the same administration that told us inflation was transitory 2 years ago and has been telling us all year this year that it would be back to 2% by now?

I think they need to recalibrate their diskronificator to have any chance of sounding credible.
Mak
  |     |   Comment #25
P_D... . What did you pay for cage free, if you're in Chicago you can pick them up for $2.99 a dozen Trader Joe's here in AZ has them for $2.99 at least they did a week ago....cage free organic would be higher and organic pasture raised even higher. Have to admit I never thought I would see the market where it is today, but still a cheap food compared to most and since it is a perishable item when supply gets in line with demand the price will come down... right now eggs of all types are very tight, looks like it's going to be a problem going into Christmas.

People wanted a more humane treatment of the hens, I guess you can blame that on democrats, don't republicans care about the hens...;)
Also specialty eggs became such a big thing that a lot of the big customers, (example McDonald's etc etc).are switching  to cage free so a lot of farms dedicated a bigger portion of their flocks to cage free, and cage free isn't necessarily what people think it is but that's a whole different discussion.
P_D
  |     |   Comment #26
It was about $6.50 for 18 so about $4.33 a dozen.
Mak
  |     |   Comment #27
You sure it's cage free and not free range? Cage free 18 count is a little less common in the name brand guys so just curious, what's the name or is it a grocery store label?
The higher the price gets the higher the markup is which helps to inflate the price..... didn't Kroger report record earnings recently, think I saw that.
P_D
  |     |   Comment #28
It was Walmart, and their brand. It said cage free on the box. I don't normally pay any attention to that, but I happen to remember seeing it on there this time because I've never noticed it before. I was shocked when I saw the price on that, and pretty much everything else I bought while I was there. It doesn't really have any material effect on me, but I literally felt sorry for some of the other people shopping there to whom it clearly makes a difference. We're not talking about luxury items here, these are basic foods. It's not like this was some fancy boutique store. I felt like this was one of those experiences that gives you a personal first-hand feel at what's going on in the economy and in this case particularly with inflation. I can't recall ever in my life seeing something like that with basic food. It's really a wake-up call.
Mak
  |     |   Comment #30
same price, the deal from Walmart was on the other ones
GreenDream
  |     |   Comment #29
"I did buy cage free eggs. They were the same price as the other eggs. More than three times what they were 2 years ago"

"It was about $6.50 for 18 so about $4.33 a dozen."

"It was Walmart, and their brand. "

When & where was this? because at my local Walmart their brand of "the other eggs" were nowhere near that high in price last week when I last bought some (I have no idea about "the cage free" ones as I've never looked for nor knowingly bought those) probably about only at most double the price of 2 years ago. In fact Walmart has had some of the cheapest egg prices of all the stores that I normally shop at for groceries these past couple of years.
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  |     |   Comment #31
Please. I've never in my life bought “cage-free eggs”, at least knowingly, and I won't start now. Much prefer the tried-and-true Henry Ford method of production - at least with that you know where to look for the egg! If I ever run across a believable study showing that yes, the caged chickens truly are psychologically deprived (or depraved), and yes, this truly does negatively impact the quality of their meat in a scientifically verifiable way - then I'm on board. Otherwise - mehhh.
#32 - This comment has been removed for violating our comment policy.

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