The average price of a pizza in Ireland rose by an estimated 16.1% last year – faster than the European Union (EU) average, according to latest research.
New data released by Eurostat – the statistical office of the EU – to mark National Pizza Day today (Thursday, February 9) suggests that the price of store-bought pizza and quiche in Europe was on average, 16% higher than it had been in December 2021.
The latest research only covered store-bought varieties eaten at home.
A year earlier, Eurostat had estimated that the price of pizza had only risen by 2% over the 12 months to December 2020.
The latest figures show that the country with the highest increase in annual inflation for pizza and quiche was Hungary, which recorded a 46% hike in prices in December 2022 compared to December 2021.
There were also big increases in pizza and quiche prices in Lithuania, where prices soared by 39% and Bulgaria, where prices rose by 37%.
But no country, not even Italy, managed to escape an inflationary-fueled increase in pizza prices.
It recorded a 10% increase in pizza prices, while Luxembourg saw prices rise by 7% and France by 13%.
The jump in pizza prices comes as the EU continues to be gripped by soaring food-price inflation.
According to Eurostat the EU food inflation rate is currently running at 18.2%.
Its latest research suggests that the price of household staples including sugar, milk, cheese, butter and eggs has continued to rise.
Last month the Central Statistics Office (CSO) said the price of milk had soared by 33.3% in 2022 while butter also rose by 23% and the price of bread jumped by 16%.
This trend shows no sign of easing off for Irish consumers as earlier this week new figures from Kantar showed grocery price inflation in Ireland has hit a record high of 16.3%.
According to the latest data from Kantar, Irish households could face an extra €1,159 on their annual shopping bills.