The price of olive oil in Europe rises 50% in one year

In January 2024, the price of olive oil in the European Union was 50% higher than in January 2023, according to data published by Eurostat. Specifically, the price of olive oil skyrocketed in the second half of 2023 with a 37% increase in August (compared to August 2022). This trend accelerated in September (+44%) and October (+50%). The peak of the annual exchange rate occurred in November 2023 when the rise was 51% compared to November 2022. A small slowdown occurred in December as prices were 47% higher compared to the same month of 2022. In January 2024, all EU countries reported an increase in annual olive oil inflation. The largest ...