Aeolian cooking is one of the best regional cuisines of southern Italy and Lipari is the easiest island on which to eat it: capers (this is one of the world's great caper-growing regions), salted ricotta, fresh swordfish and tuna, pasta with pesto eoliano (basil, mint, almonds, tomato), and grilled octopus. Drink the local Malvasia delle Lipari, a sweet golden dessert wine.
The Corso and the streets behind Marina Corta have the densest cluster of trattorias; expect to pay €30–€50 a head with wine. For something cheaper, the small alimentari near the harbour will make you a sandwich with island ingredients for a few euro.