Olive oil is expensive – level 3
The cost of making a classic Pizza Margherita at home in Italy increased more than twice as fast as overall inflation last month.
This was due to a significant rise in olive oil prices, which surged by almost one-third. According to a report, the increase in olive oil costs was the highest among various basic food items. In July, the overall expense of preparing a pizza rose by 13.5% compared to the previous year, while the national inflation rate was 5.9%. The surge in olive oil prices was influenced by a severe drought in Spain, the world’s largest olive oil producer.
Although the cost of cooking pizza at home using electricity decreased, prices for flour, mozzarella, and tomatoes all went up.
You can watch the video news lower on this page.
What impact have the changes in prices of these food items had on the cost of eating out at a restaurant in Italy?
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