The PEI Liquor Control Commission announced today that the retail price of domestic beer will increase effective April 1, 2002. The new retail price for beer will increase to $17.35 per dozen - an increase of $0.45 per dozen over last year. Included in the retail price is the $1.20 empty bottle refund.
The brewing industry has requested this increase as a result of a number of financial issues that have impacted their business, and they also anticipate significant cost increases in the coming year. Raw materials will increase in 2002 by significant amounts: malt 5%, corn syrup 3.9%, hops 18%, cartons 2.2%, labels 6.4% and glass 3.9%. Wage rates have also increased by 3%. In short, the Commission agrees that the substantial cost pressures on this industry support this price increase.
Nova Scotia has accepted and implemented this price change on March 1, 2002, and the other Maritime Provinces will increase the price on April 1, 2002.