Record Olive Oil Prices Push Up Cost of Spain’s Signature Dish
- Bloomberg index shows paella ingredients 18.3% more expensive
- Food inflation persists even as headline rate remains subdued
Paella served at a restaurant in Malaga, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
A surge in the price of olive oil in top grower Spain has increased the cost of making a traditional paella to its highest in five months.
Bloomberg’s monthly index, which calculates how much Spanish households need to spend on ingredients to make the Mediterranean rice dish, jumped 18.3% in August from a year ago, accelerating from a 15% rise the previous month.