Italy is reacting to a crisis that hits nearly every resident, as pasta costs have risen 17.5% over the last twelve months.
The inflationary impact on pasta is twice the 8.1% inflation rate in Italy, according to March 2023 figures from the European Central Bank. An estimated 60% of the Italian population eats pasta daily, and the average cost has surpassed $2.20 per kilogram, about two pounds, according to the Washington Post. (RELATED: Italy Faces National Pasta Crisis Forcing Leaders To Step In)
In case you missed it: An emergency meeting was called in Italy to address the cost of pasta after it surged at double the inflation rate, but authorities have refrained from capping the price of the staple food https://t.co/XuYMz6T3tc
— Financial Times (@FinancialTimes) May 12, 2023
The Italian government convened a crisis commission last week to investigate the cause of the soaring prices, CBS News reported. Adolfo Urso, Italy’s Industry Minister, moderated the talks as the prime dietary staple continues to rise in price. The commission has determined that there is no justification for the rising cost.
Pasta prices have soared despite the price of wheat — the main ingredient — falling in recent months. Furio Truzzi, president of Assoutenti, a consumer rights group, claims that the rising costs are just an attempt by Italian pasta producers to inflate profits.
Michael Crippa, a professor of gastronomic science in Italy, has a different theory, per CBS News. He blames the hike in prices on the Russian invasion of Ukraine, a major supplier of wheat to Europe. “Pasta on the shelves today was produced months ago when durum wheat was purchased at high prices and with energy costs at the peak of the crisis,” Crippa said, according to reports by the Washington Post.
Price Surveillance Guarantor Benedetto Mineo, who participated in the commission talks, promised a significant drop in the cost of pasta shortly, but no timeline was discussed.