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Inflation & Prices

Cost-of-Pizza Shock Hits Italy as Surge Far Outstrips Inflation

New Bloomberg index shows soaring prices for ingredients

Bloomberg business news

WATCH: Italy's Pizza-Price Shock

Enjoying one of Italy’s classic dishes has just become noticeably more expensive, with the average cost of cooking a Pizza Margherita up almost 30% in December from year ago.

That far outstrips last month’s inflation rate of 12.3%, which was driven by surging energy and food. The contrast underscores how, even after 75 billion euros ($81.6 billion) of government cash spent on helping Italians with gas and power bills, there’s only so much that can be done as other prices inch up.