Record inflation in restaurants after price fixing call
Despite restaurants calling for price fixing beginning in the new year, the group with the second highest monthly and annual price increases in January were restaurants and hotels.
According to the details of the consumer inflation data announced by the Turkish Statistical Institute (TUIK), the biggest price increase in January compared to the previous month was in the health group with 18.35 percent, while that the second largest price increase was in restaurants and hotel groups with 12.73 percent.
This was the highest monthly inflation ever recorded in restaurants and hotels.
While the CPI increased 6.65 percent monthly in January, restaurants and hotels increased 12.73 percent; While the CPI increased 57.68 percent annually in January, restaurants and hotels increased 75.13 percent. With this increase, the restaurant and hotel group outperformed food inflation, which rose 71 percent annually.
Although the restaurants announced that they fixed the prices of their menus starting in January, this increase drew attention.
Although most restaurants announced that they fixed their menu prices in January, the restaurant and hotel group was the group with the second largest price increase.
‘WE DID THE PRICING AFTER THE PRICING’
Speaking to Sozcu.com.tr, the president of the All Restaurants and Tourism Association (TÜRES), Ramazan Bingöl, said that the call they made to restaurants and restaurants to set prices until the month of Ramadan coincided with the increases New Years at menu prices.
“We made our pricing call after the hikes. Bingöl continued:
MENU PRICES INCREASE 20-30 PERCENT IN JANUARY
“Starting in the new year, menu prices had increased in the 20-30 percent range, although it varied by business. The 40 percent increase in energy prices, raw materials and especially meat prices was effective in this. These increases can be reflected in the TUIK data.”
Bingöl reported that in 2022 menu prices vary across restaurants, but are in the range of 70 to 150 percent.
Bingöl noted that after calling pricing, there was no further price increase on the menus and that he forecast it would not occur for a few more months.