MILAN: The price for a pizza in Milan has doubled during the ten years since they gave up the lira for the euro currency. A cappuccino also costs twice as much, according to one of Italy's most biggest newspapers.
Italians and other Europeans have long complained that official statistics fail to reflect that real inflation that has hit consumers since banks began issuing the euro.
Using Milan prices for common items as a national inflation gauge, the Corriere della Sera daily in a Thursday report attempted to illustrate that common items dear to the daily lives of millions of Italians have rocketed in price in the 10 years since the introduction of the euro.
Supporters of a monetary union - now boasting 17 members - say that the price of goods and services can fall because the costs of converting currency would be eliminated.
Detractors accused businesses of profiting by rounding up prices in their favour. So the cost of a Milan bus or subway ticket Dec 31, 2001 was 1,500 lire. The next day it cost 1 euro, rather than the official lira-euro exchange of 77 euro cents, according to Corriere della Sera.
According to report, the price in Milan for the popular quattro stagioni, or four seasons, pizza - a pizza divided into four parts with as many toppings - rose from the lira equivalent of 5.16 euros when the euro began circulating Jan 1, 2002 and now costs 10 euros.
When the Milanesi have breakfast at a coffee bar they can now expect to pay 2 euros, compared with the equivalent of 1.03 euros, and Barilla spaghetti rose about by about one-third, the newspaper said.
To satisfy a fastfood craving Jan 1, 2002, a Big Mac at McDonald's cost 4,900 lire, or 2.53 euros, but now costs 3.50.