Colombo restaurants strive to maintain price stability amid cost escalations

By Shabiya Ali Ahlam
As this week’s fuel hike has led to price escalations across the supply chain, the Colombo City Restaurants Collective (CCRC) said it would try its best to maintain the price stability of its plates.

Speaking to Mirror Business, CCRC President Harpo Gunaratne said, while a collective decision has not been taken as yet on hiking the prices of plates, the restaurants are on the look out for avenues to maintain costs and not pass them to the customers.

“There is no doubt that things have picked up, but the price escalation, the shortage of gas is mind boggling. Now with the fuel hike again, prices of everything are going to increase,” shared Gunaratne.

He pointed out that lack of consistency and the unpredictability in the prices quoted by suppliers makes it challenging for restaurants to maintain price stability.

“So now it’s a matter of how we keep our costs down, and make sure that we continue to offer quality food and hope for the best,” added Gunaratne. 

Earlier in June, restaurateurs opted to increase prices of plates/dishes following the first fuel price hike for 2021.

CCRC said while measures will be taken avoid passing on the burden to the customers, the final call will be made by restaurants independently on revising prices upwards after taking into account the current economic situation in the country.