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Restaurant prices will increase as peso slides

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Restaurants have been hit particularly hard by the exchange rate. Photo: Sipse

Prices are increasing for restaurateurs who will be passing the cost on to diners in 2017.

Menus will reflect the increased prices restaurant owners are paying for supplies, especially provisions imported from the United States.

Prices will rise the first weeks of next year, according to the trade group Canirac. The amount of the increase was not specified. 

Canirac’s Carlos Campos Achach blamed financial uncertainty from expected changes in U.S. economic policy.

An increase in food supplies costs, compounded with the weakening purchase power of the Mexican peso, are factors that entrepreneurs cannot control, said Campos Achach. 

Healthy sales

About December sales, Campos Achach said that the Christmas and New Year holidays look positive, as they expect to close the year well with an average increase of 10 percent over 2015.

Next year, more restaurants are expected to open in Yucatan. Foreign investors with Venezuelan, Colombian and Brazilian menus are in the pipeline, said Campos Achach. 

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