Posted on 06/05/2022 7:06:41 AM PDT by blam
Brits are the most miserable in years as the headline inflation rate is at a four-decade high. Turbulent economic times pressure household finances, leading some to drown their miseries at the local pub.
But even at the pub, it’s hard to escape today’s disastrous macroeconomic backdrop of soaring inflation and slowing economic growth, with threats of stagflation as the Bank of England hits the brakes on the economy with rate hikes.
FT cites new data from food and drinks research company CGA that shows patrons of pubs are being hammered not by the drinks but by soaring costs for the average pint of beer, up 70% since the 2008 financial crisis.
CGA monitors beer prices at UK’s 90,000 bars and pubs. Data shows the average pint cost jumped from £2.30 in 2008 to £3.95 this year. The latest price increases are due to skyrocketing barley, energy, and labor costs. There are even risks of energy shortages and rolling blackouts later this year.
When it comes to the most expensive pint, a pub in London was selling beer for £8.06. The least expensive pint was in Lancashire at £1.79.
One of the major drivers of beer prices in the UK is the soaring cost of barley. Analysts at Bernstein recently said barley costs are a “big negative” for brewing companies, estimating that “a realistic worst case would see malting barley inflation of approximately 70%” this year.
Pub owners, small and large, have said a combination of ingredient costs, wage inflation, and rising electricity bills could continue pushing up the price for a pint of beer.
Meanwhile, increasing recession risks and high inflation have made Brits the most miserable since 1994.
More Brits than ever might have to drown their miseries at home rather than in local pubs because of soaring prices, considering their household incomes have been obliterated by the inflation storm.
And now the idea is to send them to Rawanda - to British taxpayer - paid for luxury hotels:
EXCLUSIVE Inside the £46-a-night hotel in Rwanda that will house UK's illegal migrants: Asylum-seekers flown to East African nation will stay in three-star resort with swimming pool, gym, tennis court and golf course
https://www.dailymail.co.uk/news/article-10870481/Pictures-46-night-hotel-Rwanda-house-UKs-illegal-migrants.html
However....they haven't seen anything yet...just wait till the famine (that's on the way) strikes. It's been said that 20 million Africans will 'storm' Europe.
I quit drinking in bars long before I quit drinking altogether. When draught beer cost more than 35 cents a glass I could buy a six pack of 16 oz. cans of Schmidt’s for $1.40.
They should all just move to France where inflation is lower. Easy Peasy!
*SNORT*
Cheaper still to brew your own. The old Soviet Union was famous for making vodka cheaper than safe drinking water. What are the real cost of ingredients in a 12 oz can of beer which is, what, 98% water?
Still no price increases on Polish Vodka. I’m watching it like a hawk and will report back at the first uptick in price. *HIC*
There was a bar I used to visit when my budget was suffering. A 12oz draft, a hotdog, and a boiled egg, and I still had enough change from a buck to leave a nice tip. That was 1980 in SE PA.
Now, the same would be true with ten bucks — 1000% (+/-) inflation.
I’ve got to read this. Global inflation?
I come from a long line of ‘professional drinkers,’ so that put me off the stuff.
I do like my Friday Night Martini, though. I’ve usually burned up enough calories in the course of the week to justify one. ;)
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