Providence restaurant owners, customers adjust to price increases
PROVIDENCE, R.I. (WLNE) — Dinner on Federal Hill is a staple in Rhode Island and a major tourist attraction, but with consumer prices rising to the highest levels seen since Ronald Reagan was in office, there’s a rising challenge for restaurant owners.
According to Armando Bisceglia, owner of Bacco Vino & Contorni, customers are not the only ones who need to be smart shoppers.
“You have to do a little more work, I think from the restauranteur perspective. You might have to look at some numbers and you might have to actually get in the car and maybe go to a specific shop or specific vendor,” Bisceglia said.
Still, Rick Simone, executive director of the Federal Hill Commerce Association, told ABC6 News that restaurant owners in that neighborhood are not seeing a drop in business with a rise in costs.
“Consumers are realizing that this is a factor, where we’ve come out of the pandemic, and truth be told, we may be in this for quite some time and maybe that this is the new normal,” Simone said.
According to the latest numbers from Labor Department, on Thursday, consumer prices rose by 8.5% in March.