The price of olive oil in Portugal rose 69% in January, according to data released Tuesday by Eurostat, recording the biggest year-on-year increase for the product, which rose 50% on average across the European Union (EU).
In the EU, the price of olive oil soared in the second half of 2023, peaking at 51% inflation in November compared with the same month in 2022, according to the European Statistical Office.
In December 2023, year-on-year olive oil price growth slowed slightly to 47% and accelerated again in January.
In January, olive oil prices increased in all EU member states.
In addition to Portugal (69%), Greece (67%), Spain (63%) and Estonia (52.2%) saw olive oil inflation rates exceed 50% in January.
Romania (12.7%), Ireland (15.9%) and the Netherlands (17.6%) saw the smallest year-on-year increases in olive oil prices in January.
Author: Lusa
Source: CM Jornal
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