:. Food Industry News


Barilla Hiked Pasta Prices 40 pct in 18 Mths

Source: Reuters
01/07/2008

Milan, July 1- Italy's Barilla, the world's biggest pasta maker, raised pasta prices by about 40 percent in the past 18 months, spurred by soaring grain prices, one of its executives said on Tuesday.

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But it plans no further price hikes for the moment, he said.

"Until now, price increases were done in several tranches of 10, 23, and 8 percent. For now, we do not foresee other increases, we need to evaluate the new harvest," Barilla Holding group Chairman Guido Barilla told a news conference.

Italian inflation hit a record high in June, data showed on Monday, with surging energy and food prices continuing to curb Italians' purchasing power as the economy stagnates.

The price of pasta in Italy was up 22.4 percent in June from the year before, while the price of bread rose 13.0 percent.



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