Brewers raising the bar on beer prices
U.S. beer drinkers thirsty for lower prices are in for a disappointment, brewers say.
Beer consumers will soon be socked by higher prices, as Anheuser-Busch InBev, the world’s largest brewer and maker of Budweiser, and other producers around the world have announced price increases, CNNMoney.com reported Wednesday.
In a statement, the U.S.-Belgian company said:
We plan on taking price increases on a majority of volume and in a majority of markets this fall. The increase helps cover some input costs, adding that prices will rise
across different price tiers, including its low-end brands.
CNNMoney.com said MillerCoors, maker of Miller Lite, Coors Lite and Blue Moon, will also raise prices in certain markets.
What is going to be a little bit out of the ordinary is that (prices) are going to be able to go up less than in a normal year because economic conditions are tighter, Benj Steinman, editor of industry trade publication Beer Marketer’s Insights told the Web site.
Anheuser-Busch InBev reported this month that total beer volumes were down 1.5 percent in the second quarter compared with the year-earlier period.