Italians' beloved pasta has seen a significant price increase in March and April across a wide range of finished products, whether it's spaghetti with shallots and garlic or spaghetti with chorizo.
The latest data provided by Italy's Central Statistical Office (ISTAT) show that the price of pasta products rose by 17.5% and 16.5% in March and April respectively. This increase is equivalent to Italy's core consumer price index (CPI) over the same period rose twice.
Data provided by the U.S. Lufthansa showed that Italy's CPI rose 8.7% and 8.1% year-on-year in March and April, respectively.
According to the U.S. Consumer News and Business Channel (CNBC) on the 22nd, citing the Italian consumer rights organization "user associations" to provide data reported that the hotel sold pasta meal prices rose 6.1% across the board year-on-year. "International Pasta Organization" 2022 released survey results showing that Italy's annual per capita consumption of nearly 23 kilograms of pasta.
According to the report, the recent sharp rise in the retail price of pasta is mainly because manufacturers are now selling pasta stocks that were made at a time when the cost of raw materials was high.
"Users Association" President Furio Truzzi said that those stocks of pasta in the raw materials, flour, and energy prices led to higher raw material costs of the stock of pasta.
Due to the escalation of the crisis in Ukraine, Flour prices rose to a more than 10-year high in March last year. Both Russia and Ukraine are major global suppliers of agricultural products.
However, Truzzi said that manufacturers' input costs peaked and then fell back and that other factors have contributed to the current pasta price hike, namely that businesses are "maintaining high prices to make more profits".
According to data provided by the United Nations Food and Agriculture Organization, international wheat prices fell 2.3% in April, and fell to a low since July 2021, according to data.
The Italian Food Federation said in a statement that pasta now on the shelves "was made from durum wheat a few months ago. The purchase of this wheat at earlier prices, together with the peak in energy costs during the (escalation of the crisis in Ukraine)," and the same increase in packaging and logistics costs, are all factors that have pushed up the price of pasta.
The statement said the price of pasta production rose by 8.4% in a year, which is comparable to the average increase in the CPI over the same period.
2023.10.14
Company News
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