Beer Hit By Brexit Price Rise

By James O Malley on at

The cost of drowning our sorrows at the sorry state of the world has just got a bit pricier, as the brewing industry is putting up prices because of Britain's vote to leave the EU.

The Guardian reports that Heineken, Carlsberg, MolsonCoors and ABInBev (which makes Budweiser) have all decided to raise the price of a pint.

Apparently Carlsberg's average 2.6% price hike is due to "significant cost challenges". Heineken will cost an extra 6 pence.

The problems are partly due to the collapsing British pound, which has lost value against the dollar. The Graun cites an anonymous source at one brewer saying that this is already hitting the companies because of the cost of oil - which is priced in dollars. Worse still, apparently the same source also speculated that this increase could be tiny, compared to a potential 10-15% hike we could face if the Pound remains weak.

In response to this, the British Beer and Pubs Association is calling for the Chancellor to cut a penny from the tax on beer at the next Budget.

So bad news all round then. But hey, at least it might finally show renowned drinker Nigel Farage why Brexit was a terrible idea too? [The Guardian]