The PEI Liquor Control Commission announced today that the retail price of domestic beer will increase effective April 1, 2003. The new retail price for beer will increase to $17.80 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. Malt prices have increased 15%, corn syrup increased 3.9%, and new bottles and crowns are up 8%. Utility rates are also increasing approximately 20%. In short, the Commission agrees the substantial cost pressures on the industry support this price increase.
These brewery increases are effective Maritime wide.