After a hiatus of 2 years when restaurants could finally operate fully, inflation has hit them. Many restaurants are considering raising the prices on their menu because of the rise in the prices of food grains, chicken and other products. They were already concerned with the oil prices going up and now with the prices of other ingredients going up, dining out will be expensive.
Operational Cost Rose By 10-12 Percent
Kabir Suri, President of NRAI (National Restaurant Association of India) revealed that they are facing inflationary pressures. The supply of grains, oil and others has been affected a lot post-war and Covid. Also, farmers and others in the F&B industry were not prepared for the sudden rise in demand and hence there are issues in supply. He also added that the operational cost has been hiked by 10 to 12 per cent, thanks to inflation.
QSRs Hiking Their Menu Prices
Domino’s India increased prices by 5 per cent in April after a hike of 4-5 per cent in December. KFC too has increased the price up to 10 per cent. Pizza Hut too has taken a little rise. The last KFC had taken a hike was in November 2021 and Pizza Hut in April 2019.
Cautious Approach By Restaurants
Raghav Verma, co-founder, Chaayos said that they are trying their best to not pass on the cost to the consumers. Rahul Singh, founder of Beer Cafe said that there might be a slight rise in the price but they cannot think of passing the entire cost to the customers are they already are facing inflation.
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