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Beer prices are going up
Anheuser-Busch InBev and MillerCoors say they will raise prices.
Beer drinkers, get ready to shell out more for a Bud: Anheuser-Busch InBev (AHBIY) is boosting the price of its brews.
The increases will occur later this year and will cover "different price tiers," the company told The Wall Street Journal late Tuesday.
"We do plan on taking prices up in the fall on the majority of our volume in the majority of the U.S.," Dave Peacock, president of Anheuser-Busch InBev's U.S. division, told the paper. "The environment is very favorable, we think."
Rival MillerCoors also plans price increases. "We have seen very strong pricing to date this year, and we are projecting a favorable pricing environment moving forward," Brad Schwartz, the vice president of revenue management and sales development at MillerCoors, told the Journal. MillerCoors is a joint venture of Molson Coors (TAP) and SABMiller (SBMRF).
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Neither company said how big the price increases would be.
Beer prices in the U.S. have been rising despite the recession. In July, the price of beer, ale and other malt beverages sold for consumption at home had risen 4.6% from July 2008, according to the Labor Department's Consumer Price Index. The year before, prices rose 5.3%.
Meanwhile, distilled spirits rose 2%, and wine was up 1.6% in July. Consumer prices overall were down 2.1% in July, the biggest year-over-year drop since 1950.
Belgian InBev bought Anheuser-Busch last year.
I don't drink any of that swill anyway... PBR all day!!
Hey seeyousoon
The red coloring in blood is actually from iron, not B6. It is iron and oxygen bound to provide the bright red color in arterial blood and deep red in venous blood. (by the way, I am a Hematology/Oncology physician)
Other reasons Beer is good.
1. Beer doesn't get mad when you come home with beer on your breath
2. Beer doesn't get jealous when you have a different beer
3. When you are done with a beer you can throw it away (excuse me, recycle)
4. You can have more than one beer a night
By the way, a 4% increase in purchase of beer is going to be about $0.56 per case on average. I think if you are buying enough beer for a half dollar per case to make a difference, then you really have more problems than the financial side of this. Checkout Bettyford.com
"....... I don't want change, I want choice. Why can't a bar owner have two side-by-side if he wishes. One smoking, one not. No, they want control."
It's funny, if these states would allow and maybe help with the cost of a smoke eater system, the problem would be solved. First out, we're off topic a bit, but...I smoke as stated in a previous post, however; I used to enjoy going to bars and having a few AND smoking, they go hand in hand, that changed when the "moral majority" cried foul, we obligingly went outside and smoked, etc, etc...I now reside in a rural area, the town has a dining establishment that is open to the public, while inside you may enjoy a smoke if you like, they installed a smoke eater, there's no offensive smell of smoke while you eat (and trust me, I hate the smell of smoke while eating) keep in mind this state has implemented a no-smoking law, the catch here is, this particular eating establishment is technically a "private club" problem solved.
dang, we need more alcoholics to drive the price down
Shut up Not Dead Yet no one wants to hear your liberal crap here!
StockScouter data provided by Gradient Analytics, Inc.
Quotes supplied by Interactive Data.
MSN Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances.
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