Avocados Are Getting Cheaper While Everything Else Gets More Expensive A surplus has caused wholesale prices to go down, making avocados one of the only grocery items getting less expensive in the wake of rapid inflation.
The days of $18 avocado toast might be over — at least for now.
A surplus of the fruit has caused wholesale prices to go down, triggering grocery stores to decrease prices as well.
Meanwhile, the cost of grocery items increased by 13% in September as compared to last year, according to the Bureau of Labor Statistics, meaning avocados are one of the only items on market shelves getting less expensive while everything else continues to rise.
While the prices of avocados peaked at the end of June, the wholesale price of 48 midsize avocados dropped by 35% year-over-year, David Magana, senior fresh produce analyst with Rabo AgriFinance, told CNN.
The excess crops are due in part to Mexican farmers having a better-than-usual harvest this year, as well as a decreased demand for avocados in European markets, meaning much of the surplus has landed in the U.S., said Richard Kottmeyer, managing director of food, agriculture and beverage with FTI Consulting, per CNN.
While it's unclear how long the avocado glut will last, Magana told the outlet that the surplus should seep well into the middle of 2023, assuming there are no unpredictable temperature changes that impact production — so enjoy the marked-down luxury while you can.