Diageo Ireland raising prices

Diageo is introducing a price rise to the trade across its product range as a result of inflationary pressure as the price of inputs (including wages, services, materials and energy) increase across all sectors.

According to Diageo Ireland’s On-Trade Director Colin Green, “The pace of cost increases in the economy has accelerated and consumer inflation has now grown to 5.7% in Ireland, the highest in more than two decades”.

This is Diageo’s first increase for nearly four years, he points out.

The rise, amounting to six Cent per pint of draught beer, comes into effect on the 17th of February.

In a letter to customers Colin Green states that the price rise “is significantly less than the current consumer inflation rate of 5.7%”.

To this rise must be added VAT and the trade is also likely to add on its own margins while other suppliers are likely to follow Diageo Ireland’s lead in the near future.