Wednesday, August 26, 2009

Can't Even Afford to Cry in Our Beer

The nation's top brewers plan to raise prices this fall.

Anheuser-Busch and MillerCoors both say they're going to raise prices.

Anheuser-Busch said in a statement it plans on raising prices on a majority of its volume in the bulk of its markets this fall to cover some increases in its costs.

Sales of Miller Lite -- MillerCoors' flagship -- and Bud Light -- the top brand for Anheuser-Busch -- have both been suffering amid the recession.

Prices across all beers, however, have been rising. In 2008 the price of beer, ale, and other malt beverages sold for at-home consumption rose 5.3 percent, according to the government's Consumer Price Index. As of July, prices on those same items were 4.6 percent higher than they were a year ago.

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