Joe Weisenthal at Clusterstock finds that inflation will soon hit home for some, with price hikes on the horizon from beer manufacturers and cattle farmers.
“„The nation’s two largest beer sellers said Tuesday that they planned to raise prices, although they provided few specifics.
“„“We feel like we will take a moderate price increase on our portfolio,” said Peter Marino, spokesman for Chicago-based MillerCoors, maker of Miller Lite, Coors Light and Blue Moon. He blamed higher costs for the price hike.
“„Like other food manufacturers, brewers have been hit by commodity price increases in recent years, but have not been as aggressive about raising prices, analysts said. Traditionally they raise prices in the fall.
“„“Beer is a pretty good value right now, and we think we can raise prices on a market-by-market basis,” Marino said.
“„Anheuser-Busch Cos., maker of Budweiser and Bud Light, confirmed that its prices also were going up. The St. Louis-based brewer said it was raising prices on most of its beers and in most regions this fall.