Alcohol Prices See Dramatic Rise at Bars, Restaurants

Restaurant owners may be trying to make up lost profits

   

Alcohol Prices See Dramatic Rise at Bars, Restaurants

Restaurant Alcohol Prices See Dramatic Rise at Bars, RestaurantsRestaurant industry experts say that the cost of alcoholic drinks at restaurants and bars has jumped in recent months.

A survey by Restaurant Science LLC analyzed millions of drink purchases at a wide variety of food service establishments in North America between October 2012 and April 2013. The survey discovered that liquor prices at fine dining restaurants rose 11%, but didn’t rise at all at casual dining restaurants and nightclubs, Restaurant News notes.

Beer 200x200 Alcohol Prices See Dramatic Rise at Bars, Restaurants
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Liquor prices at family dining venues rose just 4.5%. Among beer brands, prices for Pabst Blue Ribbon and Anheuser-Busch InBev‘s (BUD) Budweiser climbed the most, while craft beer prices rose at a significantly lower rate.

While the report didn’t identify a reason for the increase. However, a Restaurant Science official noted that differences in price hikes by restaurant sectors suggested that wholesale price increases were not the driving factor. Instead, it was more likely the restaurants were attempting to take advantage of a recovering economy to make up for profits lost during the recession.

In February, a number of beer drinkers sued Budweiser over allegations that the company deliberately waters-down its popular beer brands.


Article printed from InvestorPlace Media, http://investorplace.com/2013/05/alcohol-prices-see-dramatic-rise-at-bars-restaurants/.

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