The price of iceberg lettuce in Australia has dropped to $2.50 after experiencing significant hikes, with the cost reaching as high as $12 at its peak. This price decrease is being observed across various supermarket chains such as Coles, Aldi, IGA, and Woolworths. Customers attribute the reduced pricing to an increase in supply and a decrease in demand. However, some supermarkets still have the vegetable priced slightly higher at $2.99.