Inflation currently sits at 3%, according to the Office For National Statistics, but the Bank of England believes it will fall back to 2% this year.
While inflation dipped from 3.1% (a six-year high) in November to 3% in December, Molson Coors and AB InBev will raise prices by as much as 3.2% and 3.9% respectively, The Morning Advertiser has learned.
AB InBev, which produces Bass, Boddingtons, Budweiser, Corona and Stella Artois, will increase prices by 3.9% across its portfolio. A spokesperson said this reflected ongoing pressure on the beer industry and the UK economy.
'Increasing our wholesale price'
A spokesperson said: “We have communicated to our customers that from 1 February 2018 we will be increasing our wholesale price by 3.9% across our portfolio (excluding duty).
“This increase is part of our regular price reviews and reflects ongoing pressure in the beer industry and the UK economy.”
The spokesperson added: “We always look to keep any increases to a minimum for our customers, maintaining an increase lower than the retail price index (RPI), despite this having more than doubled versus last year.”
Molson Coors will increase its prices, with the average rise in the cost of its beers and ciders ranging between 3% and 3.2%.
The brewer said the price hike was due to increasing costs. A spokesperson added: “At Molson Coors, we are constantly working to manage the variety of different costs associated with the production and supply of our beers.”
'Necessary to increase our prices'
They added: “However, increases in the cost of packaging materials, utilities and raw ingredients have meant it is necessary to increase our prices.
“The price increase has been kept to the minimum level required to enable us to continue to invest in our business and customers, and to deliver great customer service and well-supported beer brands.
“The price increase varies from brand to brand, however, the average increase is between 3% and 3.2% across our portfolio.”
Other brewers including Charles Wells, Diageo and Heineken are yet to reveal any 2018 price changes to The Morning Advertiser.