Wednesday, August 26, 2009

Expect to pay more for beer

Posted By on Wed, Aug 26, 2009 at 10:37 AM

You'd think the "Great Recession" would have people drinking more, but breweries say that's not the case. You know what that means: In order to keep their profits up, beer companies have to dip into the pockets of their loyal customers who are still drinking.

Gotta love "free" markets, eh? On the bright side, (don't tell the Republicans, they'll cry) "free" markets are a myth. (In order for the markets to be "free" we have to leave them alone. We're incapable of doing that as a society and have never experienced truly free markets.)

The looming price hike comes as sales volumes in the brewing industry have declined. Anheuser-Busch InBev said earlier this month that total beer volumes were down 1.5% in the second quarter versus the same period last year.

Heineken, based in Amsterdam, said Tuesday that price increases helped the company offset the pull back in consumption. Heineken makes and brews 170 international beers and ciders, but is best known for its brands Heineken and Amstel.

"The economic and trading conditions remain difficult, and there will be continued pressure on volumes in the second half of 2009," CEO Jean-François van Boxmeer said in a statement.

More from CNNMoney.

At least you don't have to worry about being beaten for drinking like this Malaysian woman:

Tags: , , , , , , ,

Pin It
Submit to Reddit
Favorite

Comments

Subscribe to this thread:

Add a comment

Creative Loafing encourages a healthy discussion on its website from all sides of the conversation, but we reserve the right to delete any comments that detract from that. Violence, racism and personal attacks that go beyond the pale will not be tolerated.

Search Events

www.flickr.com
items in Creative Loafing Charlotte More in Creative Loafing Charlotte pool

© 2017 Womack Newspapers, Inc.
Powered by Foundation