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:

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