The increase in the cost of corn and sunflower oil, as well as other socially important food products, has led to the fact that the inhabitants of Italy have become less likely to purchase goods from the so-called “food basket”. This is stated in a study by the association of agricultural producers Coldiretti.
Thus, according to experts, in August, vegetable oil became more expensive at a rapid pace – over the month, prices increased by 63%. Prices also increased last month in the range of 19-34% for butter, flour, rice, pasta and milk. On average, food prices rose by 8.4% by August 2021.
According to Coldiretti, such a significant increase in prices is caused by an increase in the cost of energy and the consequences of the conflict in Ukraine.
“Italians hunt for the lowest prices, arranging slalom at points of sale and changing stores, supermarkets in search of promotions for different goods,” the association says.
The National Institute of Statistics Istat also reported that Italians this year spend more than 3% more on food than last year, while the volume of purchases decreased by 3%, Coldiretti notes.