Tears for beers: the price of a pint is going up

Enjoy that refreshing beer while you can because the bad news is that the cost of a pint is going up.

Both Diageo and Heineken have recently sent out letters to publicans, wholesalers and retailers advising them of price increases.

Diageo, whose brands include Guinness and Smithwick’s recently wrote to customers to advise them of a 2.3 per cent price rise on beers, adding about four cent to the cost of a pint.

The company, which also upped prices by a similar figure last year, cited rising business costs for the increase.

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“Like all commercial organisations, Diageo is experiencing rising costs in doing business in Ireland. This increase is in line with current inflation trends and it is necessary to ensure we can continue to make significant investments in our business and in the wider hospitality sector.”

Heineken, which this week launched a new limited edition “Wild Lager” in Dublin bars, has also written to customers advising them of a 2.3 per cent price hike.

The company, whose brands include Murphy's, Beamish, Coors Light and Tiger, would not comment on the price rises when contact by The Irish Times.

However, the letter sent by the company to publicans, wholesalers and retailers also cites increased business costs as well as continued investment in innovation as reasons for the price hike.

A recent report from the Drinks Industry Group of Ireland indicates that beer remains the nation’s most popular drink, making up a 44.8 per cent share of the alcohol product market here last year.

However, the volume of beer consumed in the State was down 2.1 per cent compared to 2016.