Inflation & Prices
Olive-Oil Shock Hits Italian Families Struggling With Pizza Cost
- Condiment’s price growth is still accelerating amid drought
- Index shows cost of Pizza Margherita still up more than 20%
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A 27% jump in the price of olive oil is prolonging the cost-of-living shock on Italian families already reeling from lasting increases in the cooking staples that make up Bloomberg’s Pizza Margherita index.
The condiment found in kitchens across the peninsula is the only one of the five tracked ingredients for the quintessential Naples dish that is still getting more expensive at a faster pace. The overall cost of making a pizza at home has now been at least 20% higher than a year earlier for eight months in a row.