Justice Dept. reiterates that there absolutely *are* laws when you're drinking Claws
Plus: Goose Island's NFT flip, Big Bourbon's big build-out, tequila's bright future + more!
Every Friday, I round up a bunch of stories from the booze business and beyond that caught my eye. Then, I editorialize the shit out of them for our collective amusement. This is 🧾 The Settle-Up.
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#️⃣ Digits: Beer-flation nation
Perhaps you’ve noticed some headlines about inflation lately. It’s a thing that’s happening, although its causes are a matter of fierce debate. Some think soaring profit margins indicate firms with pricing power have been driving prices up as a form of market manipulation known as “greedflation;” others think it’s absolutely fuckin’ epic to post stickers of Joe Biden on gas pumps so it looks like he’s happy about the higher costs of fuel. Who’s to say, really?! Anyway, I’ve got a deep dive coming soon for VinePair about how this inflationary environment is affecting big macrobrewers’ profit margins, but there’s no question it’s contributing to a hike in beer prices. Which brings us to our first ever Digits featured figure:
That’s the amount the average price of beer has risen year-over-year through May 2022, according to the Bureau of Labor Statistics’ latest Consumer Price Index release. This jump pertains specifically to beer purchased to be consumed off-premise (i.e., not in a bar or restaurant) but seeing as how a) that’s the vast majority of beer in this country; and b) the average price for beer bought on-premise was actually higher (5.9% YoY through May 2022), you can figure this number is at least directionally accurate. If it’s any consolation—and I don’t know why it would be—this rise, while significant, has actually come down from last month’s CPI (5%), and is dramatically lower than the price inflation in other key categories. So… there’s that, I guess?
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