(Bloomberg) — The cost of making Italy’s classic Pizza Margherita kept rising in January as the price of mozzarella and olive oil soar and power prices stay high.
(Bloomberg) — The cost of making Italy’s classic Pizza Margherita kept rising in January as the price of mozzarella and olive oil soar and power prices stay high.
Gathering the ingredients for and using the energy to cook the quintessential Naples dish increased 25% in January from a year ago, according to Bloomberg calculations based on Istat and Economy Ministry data. The price increases slowed down for a second month and compare to a November peak of more than 30%.
The Pizza gauge continues to far outstrip the overall inflation rate, which — driven by energy and food — slipped to 10.7% 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.
The cost of buying a prepared pizza rose only 9.6% on the year, making going to the store a more convenient option to preparing your own version.
Component costs:
- Flour rose 20.6% Y/y and 0.7% M/m
- Mozzarella rose 27.6% Y/y and 2.0% M/m
- Tomatoes rose 1.1% Y/y and 2.1% M/m
- Olive oil rose 20.5% Y/y and 5.4% M/m
- Electricity rose 88.8% Y/y but fell 12.4% M/m
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