There should be no more increases in the price of bread or pasta in Italy after wheat prices fell 10% in October, according to a farmers’ union.
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The Coldiretti union said the fall in wheat prices means there is “no excuse” for further hikes in bread and pasta prices.
According to Coldiretti, Italian consumption of bread and pasta has fallen this year after a series of price increases.
The union said higher prices had led to a 5.6% drop in pasta sales, while bread sales have tumbled 7.4%.
However, Coldiretti was doubtful whether the fall in wheat prices would indeed lead to cheaper bread and pasta. “Past experience shows that a reduction in the cost of agricultural raw materials is not followed by a decrease in retail prices,” the union said.
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By GlobalDataThe price of pasta has sparked controversy in Italy this year with the country’s anti-trust authority investigating suspected price-fixing.
Pasta producers have maintained that they had to push up prices due to higher raw material bills.
