The Funchal Commercial and Industrial Association (ACIF) admits that the average Madeiran can no longer afford to dine out as they did two years ago. ACIF representative Júlio Pereira stated that increasing raw material costs for items like chicken, meat, and fish have driven up restaurant prices.
Pereira explained that many ACIF members lack the margin to absorb or fully pass on these food cost increases, pushing away middle and lower-middle-income consumers. He contrasted the cost of a basic grocery cart, around 60 euros for two days of food, with restaurant prices.
The ACIF representative also noted that the planned salary increase in January, which adds costs for businesses, might necessitate further price hikes. Pereira concluded that the current economic model needs rethinking due to growing income disparity, with some segments gaining purchasing power and others losing it.
