The price of beer — and most other goods — keeps going up. The Consumer Price Index (CPI) for beer in May increased +4.5% compared to a year ago, the U.S. Bureau of Labor Statistics reported Friday.
May marked a slight improvement from April, when the CPI for beer increased +5%. However, beer’s CPI for May continued to outpace both spirits (+1.4%) and wine (+1.8%).
The CPI for all urban consumers in May 2022 increased +1% (seasonally adjusted) and has grown +8.6% (not seasonally adjusted) over the last 12-month period, the fastest pace in more than 40 years, according to Axios.
The CPI measures the average price change over time paid by consumers for goods and services.
Earlier this week, NielsenIQ reported that the average price of beer was up $1.39 year-to-date and $1.29 over the last four weeks in off-premise retailers through May 28. The average case price this year is up to $27.94 year-to-date and $28.23 over the last four weeks, according to the market research firm.
Over the last month (four weeks ending May 28), the price of beer in every segment in off-premise retailers is up, according to NielsenIQ, including:
- Imports +$1.30
- Craft +$1.79
- Domestic super premiums +$0.86
- FMBs, minus hard seltzers +$1.37
- Hard seltzer +$2.91
- Premium regulars +$1.15
- Premium lights +$1.11
- Cider +$2.53
- Below premiums +$0.93
- Malt liquor +$1.30.
In the convenience channel, the average case price of beer is up $1.74 year-to-date to $28.76 and $1.59 to $29.16 for the four weeks ending May 28, according to Nielsen IQ.
Beer prices in grocery stores have lagged behind c-stores, with the average case price up $0.99 to $28.19 year-to-date and $.72 to $28.24 over the last four weeks, according to NielsenIQ.
In drug stores, the average case price is up $1.45 to $26.15 year-to-date, and up $1.21 to $26.36 over the last four weeks, the firm added.