Pasta Inflation Crisis Hits Italy

Pasta Inflation Crisis Hits Italy

THE SIGNAL

A plate of spaghetti pasta with Carbonara sauce in Italy.Nico Tondini | Universal Images Group | Getty ImagesWhether it’s a plate of spaghetti aglio e olio or penne arrabbiata, the price of Italy’s beloved staple is soaring — enough to warrant a crisis meeting at the heart of the Italian government.Pasta prices rose 17.5% in March and 16.5% in April, according to Italy’s ministry of business which cited Istat data. The jump is double that of Italy’s consumer price index figures, which climbed 8.1% year-on-year for April and 8.7% for March, according to Refinitiv data.Pasta dishes in restaurants have risen 6.1% across the board year-on-year, Italy’s consumer rights group Assoutenti told CNBC. According to a 2022 survey by the International Pasta Organization, an average Italian consumes almost 23 kg worth of pasta per year. The elevated retail prices are owed to the fact that producers are now selling their pasta stocks which were made when the raw material costs were higher.“This is due to the disposal of stocks produc …

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