Data for March 2023 show that the price of oils and fats in the EU was, on average, 23% higher than in March 2022.
The peak in the annual rate of change occurred in December 2022 (+32% compared with December 2021), indicating a 9 percentage points (pp) decrease over the first three months of 2023. This suggests that the rate of inflation for oils and fats is starting to slow down.