The Cost of Lunch in Medellín has Surged in 2024
The current lunch needs no introduction. They can call it a menu of the day or an executive menu, but in essence it is the same: a dish with its protein, carbohydrate, salad, soup and juice. A more economical option for workers and citizens who have to eat lunch outside the home every day. Today, this menu is on average 11% more expensive compared to its price in 2023.
The calculation belongs to the Colombian Association of the Gastronomic Industry (Acodres). The union maintained that today in the exclusive sectors and neighborhoods of the capital of Antioquia, the average for a regular lunch is between $15,000 and $20,000. More expensive compared to the Bogotá range, where it is between $12,000 and $18,000.
According to Henrique Gómez, executive president of Acodres, recent years have been challenging for restaurateurs due to high levels of inflation and increases in raw materials. In fact, he indicated that these businesses faced a 27% drop in sales, but for Medellín it was only 6%.
But why? For Gómez, Medellín’s better performance is due to a greater presence of foreign tourists, who have a greater ability to pay compared to local consumers.
However, the same presence of visitors from other countries can affect the rise in prices in highly touristy sectors of Medellín. “It may be a temptation for merchants to raise prices for tourists,” said Gómez, however, he clarified that the main reason for the price variation is inflation, a malaise inherited from the pandemic, which also hit restaurateurs.
Diana Marcela Vélez, owner of a cafeteria and restaurant that bears her name and is located in the 12 de Octubre neighborhood, began delivering lunches at home in her neighborhood. She made her microbusiness known to neighbors and close friends who sought her out for managing affordable prices and her good seasoning in meals.
It went so well that he soon rented a place in the area and started with some tables that were not only occupied by his friends, but also by new faces looking to taste his dishes. Until the pandemic arrived and the headache began: he was forced to close the doors of his business that was just beginning to take off.
In 2022, the world resumed its course and Diana reopened her business. Today, she employs four people and expresses that she does not want to close again, which is why she had to raise her prices this year: “everything is very expensive and I have to sustain the business without laying off any employees.”
Currently, his establishment sells the corrientazo 13.3% more expensive compared to last year, since it is now worth $17,000 and last year it cost $15,000.
This variation coincides with the Dane report. The entity revealed that annual inflation for restaurants and hotels was 13.2% in 2023, 4 points above the general average, which closed at 9.2%. That means, in simple words, that restaurants will drive the cost of living in 2023.
And why is that? According to Acodres, the situation is due to the fact that restaurants were forced to raise prices up to seven times in 2022 and 10 times in 2023, given that inputs became more expensive.
That was the case of the Macondo restaurant. The business arose from the love of cooking for Natalia Gutiérrez, who is a lawyer by profession, but she fulfilled her desire to have not only one restaurant, but there were eight in Medellín, until the pandemic hit and they were reduced to four.
Today, it is managed by Vicente Uribe, Natalia’s son. Macondo has a presence in shopping centers such as Oviedo, Mayorca, Fabricato and San Nicolás. The price of the daily menu was $17,500 last year, an adjustment of 5.7%.
Uribe recognizes that the situation forced them to raise the price twice in 2022, one increase in February and another in October, which results in a final adjustment of close to 18% in prices for the final consumer. In 2023, the increase was smaller, 14%.
According to what was expressed by this union, these constant changes in inputs have led to them obtaining lower income. Macondo was no exception and its sales closed last year with a drop of 26%.
It is no wonder if we remember that 2022 closed with an annual inflation of 27.8% in the food and non-alcoholic beverage category. Today, that figure has been declining and in December of last year it ended at 5%. Good news that suggests that this year is looking better for restaurants.
After a survey of various sectors of Medellín, it must be said that the most comfortable price that EL COLOMBIANO could find was in the José María Villa Retail plaza, in the Center. Specifically at the tables of María Martínez, owner of the El Buen Gusto establishment.
Workers in the sector go to Martínez’s restaurant because they can buy a good lunch for only $11,000. Last year it cost $9,000, meaning it had an increase of 22.2%.
Further west, in San Cristóbal, there are homemade lunch prices between $13,000 and $16,000, depending on the establishment. In other popular areas like Manrique there are restaurants that offer lunches from $16,000. On Facebook pages, there are rates that go up to $14,000.
The truth is that in Medellín, there is a variety of prices, almost always the sector and the cost of the premises affect the price for the final consumer. In fact, the search carried out by this newspaper found that the most expensive currents are in El Poblado; resulting in more considerable financial pressure for those who must feed themselves in that area of the capital of Antioquia.
The surge in lunch prices in Medellín reflects the challenges faced by restaurant owners due to inflation and increasing raw material costs, ultimately leading to higher prices for consumers. Despite these challenges, the hope is that 2024 looks better for restaurants and the food industry as a whole.