According to this CNN Money article sent in by long-time reader and Hurricane aficionado Justin, AB InBev is set to raise prices on beers across their portfolio on Tuesday:
“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.”
AB InBev isn’t the only large brewer responding with price hikes. Rising commodity costs and lowered volumes have caused others to follow suit. Heineken has also raised prices globally, and credit price increases to helping the company turn profits in spite of slower volume sales.
Earlier this month AB InBev stated that total beer volumes were down 1.5% in the 2nd quarter of 2009 vs. last year. It’s hard out here for a pimp. But who knows, maybe higher prices for Bud Light will give microbrews a little more attention from people who wouldn’t normally consider them. When is Dogfish Head coming out with their lime-flavored lager again?
Image source: rick gerber