Inflation has come for your post-work beer, too.
The retail cost of beer has risen 5.9 percent in the past year, according to CNBC. New data from the Bureau of Labor Statistics indicates that, during the 12-month period ending in April 2023, beer purchased at grocery stores has risen at a higher rate than the average 4.9 percent inflation overall.
Inflation’s effect on the drinks space has become more apparent than ever in the past twenty years, especially regarding beverages served on-premise at bars and restaurants. Since 2000, the cost of alcoholic beverages enjoyed outside the home have jumped by 102.9 percent. In comparison, the cost of a beer purchased at a retail outlet to be enjoyed at home increased by 78.9 percent.
This could point to why more consumers are reaching for spirits, a category that reported more modest inflation of around 1 to 2.5 percent in that 12-month period. In 2022, the spirits industry accounted for $37.6 billion in sales and remarkably surpassed beer.
The overall price of all retail alcohol has risen by nearly 79 percent since 2000.