Olive oil will increase in price as 2015 is underway

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Most everything gets more expensive with time. Knowing in advance what items are expected to see price hikes means you can stock up now.

Deal News is a website that tracks and analyzes prices on items in a variety of categories. Based on their research, olive oil is set to be more expensive next year:

They explain that olive growers in Italy have called 2014 their worst harvest year in memory. As a result, Italy’s olive oil output has decreased by 37%. And Spain, the top exporter to the U.S., has experienced a drought that’s expected to increase prices across the globe.

According to NBC4 News olive oil is among the products that will probably trigger sticker shock in 2015

NBC4 News comments: Drought conditions in Europe are expected to push up the price of this popular pantry item. Producers in Span have just weathered a very dry year, while it Italy, the olive crops have been hit by a fly infestation. The double whammy has lowered the olive oil supply, while the demand has risen by 50% over the past two decades.

Sources: nbclosangeles and lifehacker

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