Why is olive oil so expensive?

Available for over a year

Over the past year, olive oil has seen the biggest price rise of any food or drink product. It’s gone up by 39%, with the average cost of a 500ml bottle increasing from £5.78 to £8.04. While the rate of price increases has calmed down over the last 12 months for lots of products, such as butter and meat, olive oil is still leading the charge with massive price rises. In this episode of 5 Minutes On, our Cost of Living Correspondent, Colletta Smith, has been to find out why, and to work out what we can do about it. Image credit:Getty