{
  "id": 2187152,
  "title": "Price of olive oil in Britain doubled in five years",
  "url": "https://urgent.news/2026/08/20/price-of-olive-oil-in-britain-doubled-in-five-years",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-20T17:42:14.000Z",
  "source": {
    "name": "Interfax-Ukraine",
    "slug": "interfax-ukraine",
    "url": "https://en.interfax.com.ua/news/economic/1194798.html"
  },
  "original_language": "en",
  "account": "In the United Kingdom, the price of olive oil has surged by more than 100% over the past five years, according to research from investment firm AJ Bell. This represents the largest increase among consumer products, with only mortgage rates rising even more sharply at 152%. The price surge is primarily attributed to crop failures and higher energy costs.\n\nFrom July 2021 to October 2022, inflation rates in the UK skyrocketed, peaking at 11.1%, more than triple the Bank of England's 2% target. The cumulative inflation over the five years stands at 27.5%, meaning prices would have only been 10.4% higher if the target had been met. Notably, the cost of various goods rose even faster, including offal (76%), beef and veal (61%), eggs (58%), and chocolate (54%). This was partly due to higher prices for fertilizers and animal feed.\n\nThe economic impact of these price increases has been significant, affecting everything from weekly grocery shopping to energy bills, insurance premiums, and veterinary care. Laura Suter, director of personal finance at AJ Bell, emphasizes that these costs have taken a heavy toll on family budgets. Additionally, the mortgage market has also been hit hard, with average mortgage rates climbing from below 1% to over 4%, adding more than £500 per month to the cost of a £300,000 mortgage.\n\nWith only 13 out of 192 goods and services seeing a price decrease since August 2021, the majority have seen their prices rise. The most notable declines were in audio and video equipment (-32%), personal computers (-20%), and information processing accessories (-19%).",
  "summary": "The price of olive oil in the UK has more than doubled in the past five years, the largest increase among consumer goods, according to research from investment platform AJ Bell.",
  "key_points": [
    "Olive oil price in UK increased by over 100% in 5 years",
    "Crop failures and higher energy costs drive price surge",
    "Inflation peaked at 11.1% in 2022, exceeding 2% target"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}