Olive oil rose in price by 50% in the EU, and 67% in Greece

Greece posted the second-biggest increase in the price of olive oil since January 2023, with its increase of 67 percent well above the European Union average of 50 percent, data from the EU's statistics office showed, Kathimerini's electronic edition reported. . Portugal saw the highest price jump in the bloc, with nearly a 70 percent increase, followed by Greece and Spain (63 percent). The three countries together produce the majority of European olive oil. Eurostat said the price of olive oil rose sharply in the second half of 2023, with a 37% increase in August compared to August 2022. This trend accelerated in September with a 44% increase and a 50% increase the following month. The peak annual rate of change occurred in November 2023 (a 51 percent increase from November 2022). There was a slight slowdown in December, with prices 47 percent higher than December 2022. Price increases were recorded across the board, with the ...