Restaurant owners ‘can no longer restrain prices’

Eating out is going to become a lot more expensive as restaurant owners and catering establishments are finding it increasingly difficult to absorb the rising cost of oil, gas, electricity and food prices, the president of the leisure centres owners association said on Wednesday.

Speaking to CNA, Phytos Thrasyvoulou said the increases were coming fast and without warning, citing the price in cooking oil that went from 37 euros for 20 litres to 57 euros and suddenly to 67 euros.

He warned that the commitment of the owners of the leisure centres to restraining prices could no longer continue. Many have already increased their prices, he said, adding that one of the worst factors is the continued instability and fluctuations in costs from one day to the next.

At the same time, he called on members to try and keep the hikes to a minimum to cover costs.
“Also, the leisure centres are being affected by the fact that many people have decided to cut back on their spending so they can adjust to the new data and see what money they can spend,” he said.

This was also going to be a big problem for catering companies and anyone involved in the events business, such as weddings and christenings, which he said would be obliged in the coming months to up their prices.