Grocery budget squeeze: This pantry item is 47 per cent more expensive now
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The humble pantry has become a battleground for budget-conscious Australians, with prices of everyday staples soaring to new heights.
Among these, one item has stood out for its staggering price hike: olive oil.
In just two years, the cost of this kitchen essential has increased, leaving many wondering how to manage their grocery bills.
The price of olive oil has always fluctuated, but the recent spike has been particularly sharp.
Jo Abi of 9Honey has examined the reasons behind this increase and its implications for your wallet.
‘I long ago gave up on buying premium tins of olive oil, the kind my mum always kept under the kitchen sink my entire childhood,’ Jo said.
‘My parents would become attached to a particular brand and then change for no reason I could understand.’
Now, as a parent herself, Jo knew it had probably been related to the price increase, and she also remembered her mum reusing oil from time to time when she used a large quantity.
‘I started out my parenting journey with those same tins of olive oil, but I found them a bit annoying to store and use,’ she said.
‘I started buying the one litre home brand bottles for cooking, a bottle of extra virgin for salads and more affordable canola oil that I used for deep frying schnitzel and chips.
Let's take a closer look at the numbers.
In 2022, a litre of Essentials Olive Oil for $8.80 and Woolworths Extra Virgin Spanish Olive Oil for $10.
Fast-forward to today, and those prices have jumped to $13.00 and $17.00, respectively, at Woolworths, with Coles listing Essentials Olive Oil at an even steeper $17.00.
‘That is an increase of about 47 per cent to 93 per cent, depending on the store. I don't know about you, but for those prices, I'd expect them to come with a chef who does the cooking for me,’ Jo said.
‘We're encouraged to eat Mediterranean diets filled with olive oil and olives and nuts and oil fish, vegetables, garlic...but who can afford it? I'm struggling to keep up with the cost of olive oil alone, let alone the other items on this list.’
In response to these price pressures, Jo started exploring new avenues.
‘At Costco, their home brand Kirkland sells olive oil at $55.99 in a two pack of three-litre bottles at a cost of $9 per litre,’ she said.
However, she noted the challenge with warehouse stores like Costco is the temptation to fill your cart with more than you came for, which can quickly negate any savings.
‘ALDI is a bit better, selling at $8 for one litre. Once again, that requires me to avoid the Special Buys which, with ALDI's recent release of branded clothing including jumpers and t-shirts, is difficult,’ she shared.
The solution, according to Jo, has been to turn to online shopping.
‘Buying olive oil online from one of the many businesses selling non-perishable grocery items for less than what you'd find at the major supermarkets,’ Jo said.
‘The best place I found? Amazon. There you can buy a two-litre tin for $19.99 which at $9.50 per litre is on the lower end of the scale and allows me to avoid impulse purchases.’
‘Yes, it is a tin, but not my mum's monster four-litre one, a much more manageable size and the price is pretty awesome.’
With the cost-of-living crisis, it’s no wonder shoppers resort to stores with discounted prices—one such store is ALDI.
However, in a previous story, Jo explained why she found herself straying from ALDI’s aisles and wandering into Woolworths and Coles more frequently. You can read more about it here.
Have you noticed the price of olive oil affecting your grocery budget? What strategies have you employed to cope with the rising costs? Share your experiences and tips in the comments below.
Among these, one item has stood out for its staggering price hike: olive oil.
In just two years, the cost of this kitchen essential has increased, leaving many wondering how to manage their grocery bills.
The price of olive oil has always fluctuated, but the recent spike has been particularly sharp.
Jo Abi of 9Honey has examined the reasons behind this increase and its implications for your wallet.
Olive oil has been expensive nowadays, leaving many wondering how to manage their grocery bills. Credit: Shutterstock
‘I long ago gave up on buying premium tins of olive oil, the kind my mum always kept under the kitchen sink my entire childhood,’ Jo said.
‘My parents would become attached to a particular brand and then change for no reason I could understand.’
Now, as a parent herself, Jo knew it had probably been related to the price increase, and she also remembered her mum reusing oil from time to time when she used a large quantity.
‘I started out my parenting journey with those same tins of olive oil, but I found them a bit annoying to store and use,’ she said.
‘I started buying the one litre home brand bottles for cooking, a bottle of extra virgin for salads and more affordable canola oil that I used for deep frying schnitzel and chips.
Let's take a closer look at the numbers.
In 2022, a litre of Essentials Olive Oil for $8.80 and Woolworths Extra Virgin Spanish Olive Oil for $10.
Fast-forward to today, and those prices have jumped to $13.00 and $17.00, respectively, at Woolworths, with Coles listing Essentials Olive Oil at an even steeper $17.00.
‘That is an increase of about 47 per cent to 93 per cent, depending on the store. I don't know about you, but for those prices, I'd expect them to come with a chef who does the cooking for me,’ Jo said.
‘We're encouraged to eat Mediterranean diets filled with olive oil and olives and nuts and oil fish, vegetables, garlic...but who can afford it? I'm struggling to keep up with the cost of olive oil alone, let alone the other items on this list.’
In response to these price pressures, Jo started exploring new avenues.
‘At Costco, their home brand Kirkland sells olive oil at $55.99 in a two pack of three-litre bottles at a cost of $9 per litre,’ she said.
However, she noted the challenge with warehouse stores like Costco is the temptation to fill your cart with more than you came for, which can quickly negate any savings.
‘ALDI is a bit better, selling at $8 for one litre. Once again, that requires me to avoid the Special Buys which, with ALDI's recent release of branded clothing including jumpers and t-shirts, is difficult,’ she shared.
The solution, according to Jo, has been to turn to online shopping.
‘Buying olive oil online from one of the many businesses selling non-perishable grocery items for less than what you'd find at the major supermarkets,’ Jo said.
‘The best place I found? Amazon. There you can buy a two-litre tin for $19.99 which at $9.50 per litre is on the lower end of the scale and allows me to avoid impulse purchases.’
‘Yes, it is a tin, but not my mum's monster four-litre one, a much more manageable size and the price is pretty awesome.’
With the cost-of-living crisis, it’s no wonder shoppers resort to stores with discounted prices—one such store is ALDI.
However, in a previous story, Jo explained why she found herself straying from ALDI’s aisles and wandering into Woolworths and Coles more frequently. You can read more about it here.
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