Pasta prices are up in U.S. but not like Italy crisis

Published 2023년 5월 23일

Tridge summary

Italy's government has convened a crisis meeting to address the significant surge in pasta prices, which has led to a near-doubling of the country's inflation rate. The high pasta prices are affecting both Italian and American consumers, with pasta prices in the U.S. reaching a record high in February. Factors contributing to the price increase include rising costs in input, packaging, and logistics, as well as concerns over corporate profit-taking. However, the decrease in the cost of durum wheat, a key component of pasta, has not yet been reflected in the retail prices. The crisis commission in Italy anticipates a decrease in prices in the coming months, although in the U.S., pasta prices are expected to continue their upward trend due to increased production costs and supply chain issues.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The price of pasta is being served uncomfortably al dente, triggering official crisis meetings in Italy and hitting American consumers on already inflated grocery bills. Why it matters: The skyrocketing price of pasta is a perfect case study in what drives inflation — involving rising commodity costs, rocky supply chains and accusations of excessive corporate profit-taking. It also shows how difficult it is to pinpoint which causes are actually to blame. Driving the news: Earlier this month Italy's government convened a crisis meeting to diagnose why pasta prices had spiked more than 2x the country's rate of inflation. A spokesperson for Unione Italiana Food told CNN earlier this month that rising input, packaging and logistics costs were to blame. Critics of the price surges have pointed to the fact that the cost of durum wheat has decreased, a fact that producers have attributed to a lag in when those decreased input costs actually show up in finished products. Zoom in: The ...

Source: Axios