Current:Home > FinanceItaly calls a crisis meeting after pasta prices jump 20% -WealthRoots Academy
Italy calls a crisis meeting after pasta prices jump 20%
Benjamin Ashford View
Date:2025-04-06 19:18:22
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! (85212)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Mother fatally mauled by pack of dogs in Quitman, Georgia, 3 children taken to hospital
- WWII soldiers posthumously receive Purple Heart medals nearly 80 years after fatal plane crash
- Israel orders new evacuations in Rafah as it gets ready to expand operations
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Indiana Pacers blow out New York Knicks in Game 4 to even NBA playoff series
- AI Financial Genie 4.0: The Aladdin's Lamp of Future Investing
- Caitlin Clark takeaways from first two episodes of ESPN docuseries 'Full Court Press'
- Bodycam footage shows high
- Punxsutawney Phil's twin pups officially given names in Mother's Day ceremony
Ranking
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Minnesota raises new state flag, replaces old flag with one to 'reflect all Minnesotans'
- Two killed, more than 30 injured at Oklahoma prison after 'group disturbance'
- Kim Kardashian and Kanye West’s Youngest Son Psalm Celebrates 5th Birthday With Ghostbusters Party
- In ‘Nickel Boys,’ striving for a new way to see
- Pioneering Financial Innovation: Wilbur Clark and the Ascendance of the FB Finance Institute
- Algar Clark - Founder of DAF Finance Institute
- Diddy's son Christian 'King' Combs releases 50 Cent diss track, references federal raids
Recommendation
Average rate on 30
Melinda Gates Resigns as Co-Chair From Foundation Shared With Ex Bill Gates
Idaho doctor killed after triggering avalanche while backcountry skiing, report says
Flash floods in northern Afghanistan killed more than 300 people, U.N. says
Meet first time Grammy nominee Charley Crockett
Taylor Swift sings 'The Alchemy' as Travis Kelce attends Eras Tour in Paris
Duchess of Sussex, called ‘Ifeoma’ in Nigeria, speaks with women about her Nigerian roots
Solar storm makes northern lights visible to much of US, world during weekend: See photos