This Thursday the inflation data in Spain was shared, showing a slight decrease in the price of food, although the shopping basket became more expensive by 4.4%. Among basic products, olive oil stands out, the price of which remains high, although it registered a slight drop, reaching a 68% increase. In addition, the extension of the food tax reduction, which includes a 0% VAT, has not yet been decided.
Some analysts have examined the olive oil data and made their predictions for the coming months. Among them, the economist Gonzalo Bernardoswho participated in the program Ms Vale Tarde by Iaki López on LaSexta.
Although the price of olive oil remains high, a slight decrease of 2.1% in May compared to April, according to the National Institute of Statistics (INE). Bernardos suggests that this decline could continue due to the large production expected for the 2024/2025 campaign, driven by well-timed rains.
The prediction of Gonzalo Bernardos on the price of olive oil
The economist and professor wanted to emphasize that there will be great production in the 2024/2025 olive oil campaign because it has rained a lot and at the right time. Bernardos believes that if in this campaign production has been about 750,000 tons, in the next the volume may rise to 1,500,000. When this happens, the one who has stored bottles says Better to sell it now, lowering the price a little than later.the expert has stressed.
In this sense, he wanted to emphasize that said decline has every prospect of continuing and that high impact on olive oil inflation has every prospect that in the coming months, instead of generating inflation, it will generate disinflation.
In addition, Bernardos predicts that the price of olive oil could stabilize around 5 euros per liter in January 2025in contrast to the forecast of the Spanish multinational Deoleo, which estimates a price reduction to 4 euros after having reached 10 euros at its highest point.
Follow the Diario AS channel on WhatsAppwhere you will find all the sport in a single space: the current news of the day, the agenda with the latest news of the most important sporting events, the most outstanding images, the opinion of the best AS brands, reports, videos, and some humor from time to time.
