Overview
- A C.r.c. review finds industrial panettone and pandoro now cost on average 42% more than in 2021, while chocolate-based holiday sweets have risen about 89%.
- Maiora Solutions reports a 2025 year-on-year increase of 9% for industrial panettoni and 3% for artisanal versions in Milan, with five-year averages up to €8.58/kg from €5.53 and to €44.74/kg from €36.86.
- Cocoa prices in 2025 exceeded $10,000 per ton, roughly triple 2021 levels, and butter rose about 83% year-on-year to above $8,300 per ton, feeding through to pastry prices.
- Codacons estimates total Christmas 2025 spending at about €28 billion, averaging €1,085 per household, with roughly €9.5 billion in gifts and a large share purchased during Black Friday sales.
- Seasonal decorations show average price gains of 30.7% since 2021, and jewellery prices are up 26.3% year-on-year on gold’s surge, discouraging jewellery as a gift choice.