In Italy, olive oil has risen by 27 percent over the year. According to Bloomberg News Agency, the rise in the price of the product has not only shocked Italian families, already suffering from the constant rise in the cost of basic foodstuffs but also affected the availability of traditional pizza.
The reason for the increase in the cost of butter, according to experts, was a severe drought in Spain, the world’s largest producer of the product.
“This shows that even as inflation declines and energy costs slow, Italy remains vulnerable to a number of commodity shocks affecting staple foods,” the report said.
Because of inflation, buying pizza at local retail chains is becoming cheaper than cooking it yourself at home, because the cost of the ready-made dish rose by only 8.5% year-on-year. Mozzarella and flour (products that make up the pizza), in turn, went up by 26.9% and 17.6% respectively.