The cost of making Italy’s classic Pizza Margherita kept rising in April compared to a year ago even if the pace of inflation is slowing for all of its components.
(Bloomberg) — The cost of making Italy’s classic Pizza Margherita kept rising in April compared to a year ago even if the pace of inflation is slowing for all of its components.
Gathering the ingredients for and using the energy to cook the quintessential Naples dish increased 19% in April from a year ago, according to Bloomberg calculations based on Istat and Economy Ministry data. The price increases slowed down versus March and compare to a November peak of more than 30%.
The Pizza gauge continues to far outstrip the overall inflation rate, which was 8.7% last month. Bloomberg’s index crunches data on flour, tomatoes, mozzarella cheese, olive oil and the electricity consumption needed to cook a pizza with a home electric oven which was the cost that decreased the most on the month falling 11.3%.
The cost of buying a prepared pizza rose only 7.6% on the year, making going to the store a more convenient option to preparing your own version.
- Flour consumer prices rose 11.1% Y/y
- Mozzarella consumer prices rose 25.0% Y/y but fell 0.4% M/m
- Tomato consumer prices rose 8.6% Y/y but fell 2.0% M/m
- Olive oil consumer prices rose 26.1% Y/y and 1.2% M/m
- Electricity consumer prices rose 20.1% Y/y but fell 11.3% M/m
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