Avocado prices have nearly doubled in past year

SAN DIEGO -- Wholesale prices on avocados have more than doubled over the past year.

Analysts say the price spike can be attributed to growing global demand and a natural, seasonal dip in production both in Mexico and California.

Avocados from Mexico cost a whopping 129% more than they just one year ago. Most of that price is being passed onto consumers, with retail prices nearly doubling.

But never fear guac' fans -- if you can hold off for a bit longer, prices are forecast to come down by mid-August, when production in Mexico ramps back up. Almost 90% of the avocados sold in the U.S. come from south of the border.

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