Mamma Mia! Italian olive oil prices hit near-record levels

European olive oil prices are nearing record levels, driving up the cost of Italian pizza after extreme temperatures in Southern Europe caused significant crop damage.

European olive oil prices are nearing record levels, driving up the cost of Italian pizza after extreme temperatures in Southern Europe caused significant crop damage.

Since August 2020, extra virgin olive oil prices have gone up more than 280 percent, landing at the highest level since 2010. Bloomberg found the cost of ingredients plus energy to cook a classic Margherita pizza is up 14 percent!

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