Return to higher VAT: Restaurateurs are already increasing prices - financial expert analyzes the effects

Return to higher VAT: Restaurateurs are already increasing prices - financial expert analyzes the effects

According to a report by www.mdr.de, just two weeks after the return to higher VAT, a good 75 percent of the restaurateurs surveyed increased their prices. A further proportion of restaurateurs plan to increase prices later this year.

Three quarters of restaurateurs have already increased their prices following the return to higher VAT, while almost all remaining companies are planning price increases later in the year. Only three percent of restaurateurs said they did not want to increase prices. The biggest challenges for companies are the increase in VAT for food in the catering industry, rising personnel costs and higher food and energy costs.

The price increases in the catering industry could impact the market and the financial sector. The cost increases, particularly with regard to VAT, could lead to increased cost pressure. This, in turn, could result in some restaurateurs having to raise their prices further, which could impact consumers' purchasing power.

In addition, the restaurateurs' assessment that a third of the companies fear losses in 2024 and only another third expect to be able to hold their own on the market suggests that the financial sector could be affected by a decline in sales.

The Dehoga President's call for politicians to improve the framework conditions and the negative impact on the behavior of consumers who go to restaurants less often or want to spend less there shows that the return to higher VAT could also have social and economic effects.

Overall, it shows that the return to higher VAT in the catering industry represents a complex and multi-layered problem that requires in-depth analysis from an economic perspective.