+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Italy is convening a crisis meeting this week to address soaring pasta prices, reports say

May 8, 2023, 18:29 IST
Business Insider
izzzy71/Shutterstock
  • Italy's industry minister has called a crisis meeting to address the soaring price of pasta, Reuters reported.
  • Pasta prices jumped 16.3% in April, while broader Italian inflation came in at 8.8%.
Advertisement

Italy's government is convening a crisis meeting to address soaring pasta prices, which surged almost twice as much as the country's inflation rate last month.

The nation's industry minister Adolfo Urso has called the meeting for Thursday to mull ways to slow the increase in the price of the nation's favorite staple, Reuters reported.

In April, the price of pasta and couscous rose at a provisional rate of 16.3% from a year earlier, according to the Italian National Institute of Statistics. The comparable increase in Italy's harmonized index of consumer prices, a weighted average of Italian goods and services, measured a provisional 8.8% in April.

Pasta, the cornerstone of many of Italy's most famous dishes and a staple for Italian families, has faced price pressures for the last couple of years linked to increased energy costs and supply chain logjams, elevating wheat costs.

But Coldiretti, an Italian agriculture group, said soaring pasta prices represented an "anomaly that needs clarification," given the price of a key ingredient, durum wheat, fell 30% in the year, per local publication Ansa.

Advertisement

According to Ansa, consumer group Assoutenti filed a complaint with Italy's Ministry of Enterprises after calculating price increases were costing Italian families an extra €25 ($27.60) this year.

The National Consumer Union said until speculation on wheat prices was defined as an "unfair practice," the price of pasta may stay elevated, per Ansa.

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article