After extreme heat in southern Europe caused significant crop damage, olive oil prices are soaring further into record-breaking territory. This has led the cost of cooking a classic Pizza Margherita to remain well above the current Italian inflation rate.
Bloomberg calculations based on Istat and Economy Ministry data showed the cost of ingredients plus energy to cook a Pizza Margherita increased 14% in June compared to a year earlier. The good news is costs associated with pizza-making have subsided since late 2022 but remain twice that of overall Italian inflation. “The cost of buying prepared pizza rose only 7% […]