Rising pizza prices show knead for pay rises

The price of a pizza is rising up to nine times faster than wages in Europe, showing the need to stop speculation on food prices and deliver pay rises which match the rising cost of living.



The cost of shop-bought pizza increased by 16% across the EU between December 2021 and December 2022, according to Eurostar figures published to coincide with today’s world pizza day. 



By comparison, nominal wages increased by 4% across the EU over the same period, making pizza around four times more expensive.



The biggest gaps between the increase in the price of pizza and wages can be found in the following 10 countries:

The price of pizza reflects the problem of food price inflation more generally.



Food prices, which are the second highest contributor to inflation after energy, increased by a huge 18% across the EU between December 2021 and December 2022.



That has been caused not only by supply problems but also price speculation, with some manufacturers taking advantage of the cost of living crisis to raise their prices higher than necessary.



At least one European supermarket has refused to stock products made US food manufacturer Kraft Heinz because of their “unjustifiable price increases.”



The ETUC’s action plan to end the cost of living crisis calls on EU and national leaders to:



- Take action to prevent speculation on food prices, including through price caps and taxes on excess profits;

- Provide payments targeted for people struggling to put food on the table and afford their energy bills;

- Support pay rises to meet the increase in the cost of living. 

ETUC General Secretary Esther Lynch said:



“The rising price of pizza captures something much larger and perfectly demonstrates why we need to stop speculation on food prices and give working people a pay rise.

“Food price inflation is being driven not only by supply problems but also by multinational companies using the cost-of-living crisis as an excuse to hike-up prices.



“It is unacceptable that many food manufacturing companies are celebrating big increases their profits at a time when rising prices mean working people are struggling to feed their families.



“It’s time for politicians to reign in greed - this is a profits spiral.”



Notes



ETUC six-point plan to end the cost of living crisis: https://www.etuc.org/en/document/end-cost-living-crisis-increase-wages-tax-profits



Wage data from European Commission Ameco database.