Current:Home > InvestItaly calls a crisis meeting after pasta prices jump 20% -FutureWise Finance
Italy calls a crisis meeting after pasta prices jump 20%
View
Date:2025-04-18 16:03:56
Consumers in some countries might not bat an eye at rising macaroni prices. But in Italy, where the food is part of the national identity, skyrocketing pasta prices are cause for a national crisis.
Italy's Industry Minister Adolfo Urso has convened a crisis commission to discuss the country's soaring pasta costs. The cost of the staple food rose 17.5% during the past year through March, Italian newspaper La Repubblica reported. That's more than twice the rate of inflation in Italy, which stood at 8.1% in March, European Central Bank data shows.
In nearly all of the pasta-crazed country's provinces, where roughly 60% of people eat pasta daily, the average cost of the staple has exceeded $2.20 per kilo, the Washington Post reported. And in Siena, a city in Tuscany, pasta jumped from about $1.50 a kilo a year ago to $2.37, a 58% increase, consumer-rights group Assoutenti found.
That means Siena residents are now paying about $1.08 a pound for their fusilli, up from 68 cents a year earlier.
Such massive price hikes are making Italian activists boil over, calling for the country's officials to intervene.
Durum wheat, water — and greed?
The crisis commission is now investigating factors contributing to the skyrocketing pasta prices. Whether rising prices are cooked in from production cost increases or are a byproduct of corporate greed has become a point of contention among Italian consumers and business owners.
Pasta is typically made with just durum wheat and water, so wheat prices should correlate with pasta prices, activists argue. But the cost of raw materials including durum wheat have dropped 30% from a year earlier, the consumer rights group Assoutenti said in a statement.
"There is no justification for the increases other than pure speculation on the part of the large food groups who also want to supplement their budgets with extra profits," Assoutenti president Furio Truzzi told the Washington Post.
But consumers shouldn't be so quick to assume that corporate greed is fueling soaring macaroni prices, Michele Crippa, an Italian professor of gastronomic science, told the publication. That's because the pasta consumers are buying today was produced when Russia's invasion of Ukraine was driving up food and energy prices.
"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.
While the cause of the price increases remains a subject of debate, the fury they have invoked is quite clear.
"People are pretending not to see it, but the prices are clearly visible," one Italian Twitter user tweeted. "Fruit, vegetable, pasta and milk prices are leaving their mark."
"At the supermarket below my house, which has the prices of Las Vegas in the high season, dried pasta has even reached 5 euros per kilo," another Italian Twitter user posted in frustration.
This isn't the first time Italians have gotten worked up over pasta. An Italian antitrust agency raided 26 pasta makers over price-fixing allegations in 2009, fining the companies 12.5 million euros.
- In:
- Italy
- Inflation
veryGood! (779)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- EAGLEEYE COIN: The Rise and Impact of Central Bank Digital Currencies (CBDC)
- Microsoft investigates claims of chatbot Copilot producing harmful responses
- Sinbad makes first public appearance since suffering a stroke: 'Miracles happen'
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- San Diego man is first in U.S. to be charged with smuggling greenhouse gases
- 19-year-old dies after being hit by flying object from explosion, fire in Clinton Township
- OpenAI says Elon Musk agreed ChatGPT maker should become for profit
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
- Another inmate found dead at troubled Wisconsin prison
Ranking
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Sen. Ted Cruz of Texas to face Colin Allred in general election
- Love Is Blind's Chelsea Shares What Wasn’t Shown in Jimmy Romance
- NFL franchise tag deadline tracker: Recapping teams' plans leading into 2024 free agency
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Mifepristone abortion pills to be carried at CVS, Walgreens. Here's what could happen next
- In Florida, Skyrocketing Insurance Rates Test Resolve of Homeowners in Risky Areas
- Where will Russell Wilson go next? Eight NFL team options for QB after split with Broncos
Recommendation
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
Texas sheriff who was under scrutiny following mass shooting loses reelection bid
Microsoft investigates claims of chatbot Copilot producing harmful responses
Hurry! This Is Your Last Chance To Score an Extra 30% off Chic Michael Kors Handbags
Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
What is a whale native to the North Pacific doing off New England? Climate change could be the key
Rewritten indictment against Sen. Bob Menendez alleges new obstruction of justice crimes
OpenAI says Elon Musk agreed ChatGPT maker should become for profit