EVERYTHING IS GOING SWIMMINGLY (ITALY EDITION): Italian ‘pasta strike’ proposed amid soaring prices.
Pasta costs rose by 17.5% in March and 16.5% in April. That’s more than double Italy’s roughly 8% inflation rate.
The reason is simple: Much of the pasta now making its way to store shelves (and imported here to the U.S.) was manufactured during the pandemic, when commodity costs were higher.
As a result, retail costs now reflect the higher production expenses.
Even so, that’s not sitting well with Italians.
“High prices are maintained in order to have greater profits,” an Italian consumer group called Assoutent told CNBC.
The group is seeking a “pasta strike” by consumers lasting at least 15 days to reduce demand and force retailers to lower costs.
It’s hard to imagine Italians giving up pasta at any price.