News

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

Olive Oil
Spain
Published Feb 29, 2024

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 a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

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
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