AB Inbev to hike prices
AB Inbev is to hike its price by 7.8% on top of duty next year.
The rise will come into effect on January 2, 2012.
The company said in a statement: “Challenging increases in our costs, notably raw materials and energy, mean that we now have no choice but to pass on some of these costs in price increases.
“In the past we have worked to absorb cost increases through efficiencies, but with significant commodity price increases, this approach is no longer sustainable.
“The pressures the industry is facing are exacerbated by the government’s recent record duty increases, and we will continue to make the case for the abolition of the beer duty escalator.
“This is the smallest increase we are able to deliver and maintain our business on a sustainable footing. We will of course continue to focus on driving cost and efficiencies in an effort to minimise impact.”