Beer warning as Carlsberg to hike prices in 2023 amid high production costs

dailyrecord.co.uk:

Danish beer firm Carlsberg have said they expect to bump up their prices this year amid inflation, it has been reported.With production prices remaining high, the beer firm is expected to raise its prices too.

According to trade publication The Drinks Business, there could be a 'high single-digit' percentage price increase in 2023.It comes after Carlsberg released its financial report covering the end of 2022.

It cited inflation as well as higher production prices as a reason for increased prices.The statement read: "While beer historically has been a resilient consumer category, the higher prices in combination with generally high inflation may have a negative impact on beer consumption in some of our markets, particularly in Europe."Despite a challenging year, Carlsberg saw growth of between minus five per cent and plus five per cent, which was considered to be a 'strong set of results'.Carlsberg CEO Cees 't Hart commented: "The Group delivered a strong set of results for 2022 thanks to an impressive effort by our employees across the Group and continued good execution of our strategy."The high earnings and very strong cash generation were achieved despite many challenges, including the war in Ukraine, rising energy and commodity prices, and the impact from the pandemic, particularly in Asia."The Carlsberg boss added: "2023 will be another challenging year, but the strategic, organisational and financial health of our company is strong, and we are confident that our purpose-led and performance-driven culture will drive continued sustainable long-term value creation."Recently, Scottish alcohol firms- who also face higher production costs - have warned of impacts on the sector following plans to ban alcohol advertising.E