Home Business News The second largest beer maker in the world warns surging inflation could put beer prices up

The second largest beer maker in the world warns surging inflation could put beer prices up

by LLB Finance Reporter
16th Feb 22 1:07 pm

Over the past 12 months the price of barley and aluminium costs has soared and the second largest beer maker in the world expects beer prices will go up amid higher inflation.

Aluminium is 50% more expensive and barley has more than doubled over the past year which will be passed on to customers.

Heineken who produce Sol, Strongbow and Heineken warned on Wednesday that they miss their financial targets due to surging inflation.

The company had better than expected profits in 2021 due to a surge in prices and cost savings, but warned less people are now drinking and the pandemic is still creating disruption for Heineken.

Supply chain issues caused by Brexit the slow recovery in the nightlife industry could further impact their financial targets.

“These kind of price increases and inflation, I think we have not seen in a generation,” Heineken chief executive Dolf van den Brink told Reuters News Agency.

“The big unknown is how this will affect the more developed markets that have not seen this kind of pricing before.”

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