EU: Portugal recorded the biggest increase in the price of olive oil

Published 2024년 2월 29일

Tridge summary

In January 2024, the cost of olive oil in the European Union (EU) surged by 50% compared to the same month in 2023. Portugal experienced the most significant increase at 69%. This follows a trend of rising olive oil prices in the latter half of 2023, which peaked in November with a 51% year-on-year increase. All EU countries saw an annual rise in olive oil inflation in January 2024, with the smallest increases observed in Romania (13%), Ireland (16%), and the Netherlands (18%).

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Original content

The price of olive oil in the European Union (EU) rose 50% in January compared to the same period last year. Portugal was the country that recorded the biggest increase, with a 69% increase compared to January 2023, according to Eurostat data. The European statistical service also states that the price of olive oil soared in the second half of 2023, with an increase of 37% in August compared to the same month in 2022, with the trend gaining greater traction in September, with a rise of 44%, and in October, with an increase of 50%. The peak in the annual rate of change occurred in November 2023, with an increase of 51% compared to November of the previous year. In December, there was a small slowdown, with an increase of 47%, compared to December 2022. According to the findings, in January 2024, all EU ...

Source: PTvidarural