EU: The price of olive oil has risen by 50% in one year

Published 2024년 2월 28일

Tridge summary

In January 2024, olive oil prices in the EU saw a significant increase of 50% compared to the same period in 2023. The most substantial hikes were observed in Portugal, Greece, and Spain, with increases of 69%, 67%, and 63% respectively. On the other hand, Romania, Ireland, and the Netherlands experienced the smallest increases, ranging from 13% to 18%. The surge in prices began in the second half of 2023, reaching a peak in November with a 51% increase compared to November 2022.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In January 2024, the price of olive oil in the EU was 50% higher than in January 2023, according to Eurostat data. The price of olive oil rose sharply in the second half of 2023, increasing by 37% in August (compared to August 2022), according to Eurostat. This trend accelerated in September (+44%) and October (+50%). The peak annual rate of change occurs in November 2023 (+51% compared to November 2022). December saw a slight slowdown, with prices 47% higher (compared to December 2022). In January 2024, all EU countries reported an increase in annual inflation for olive oil. The biggest increase was ...

Source: Sinor