Inflation bites into Italy’s pizza

The cost of a homemade pizza has soared well over Italy’s annual inflation rate as food prices add to the cost-of-living shock for families already reeling from surges in energy prices


Cost of making a pizza (Increase, year-on-year) 

2022-23: Increased cost of homemade pizza
20.0%

7.6% 
Italy’s annual inflation rate in March, down from 9.1% in February

2022: Jump in price of olive oil is partly driven after Spain – world’s top exporter of olive oil – is plagued by drought. Production down by about 50%. Italian production is also hit


28.0%		27.0% 		26.9% 		17.6%	13.6% 		13.4%
7.6%	
Electricity	Olive oil 	Mozzarella 	Flour 	Pepperoni 	Tomato

 
Sources: Bloomberg Pizza index, ISTAT, International Olive Council
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