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Pub landlords are warning that Guinness risks becoming “the first £10 pint” after its maker revealed an incoming price hike.
Guinness draught prices are set to surge by 5.2 per cent in April, parent company Diageo revealed, as operational costs continue to rise for the business after the company upped the price last year by 4.2 per cent.
A spokesperson confirmed the change to The Independent, insisting that it allowed Diageo to continue investing in its brands.
“Like all businesses, Diageo must carefully manage the rising cost of doing business through regular pricing review of our products,” they said. “We have kept today’s cost price increase to a minimum, reflecting the rising costs in our supply chain.
“This increase allows Diageo to continue investing in our brands to bring high-quality stout and spirits to market, and to support investment in initiatives to drive mutual growth for our customers across the hospitality sector.”
As the alcohol company appears set to raise the price by an equivalent of 4p per pint, pub owners have expressed concern that the Irish stout will soon be unaffordable – and undrinkable.
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Former Tesco boss Sir Dave Lewis has been appointed as chief executive of Diageo as the drinks giant looks to boost its flagging performance (PA Media)
Pub boss Mark Edgell, director of the Dog and Partridge pub in Yateley, Hampshire, told trade publication the Morning Advertiser that Diageo seemed “hell-bent on having the first £10 a pint beer.”
Already, a pint of Guinness in his pub has increased from £5.50 to £6.50 in the past three years; he said it would soon rise to £6.90.
“Pubs are being forced to add huge increases to the price of a pint beyond what the public will find acceptable,” he said. “With rising energy costs, two recent rounds of national minimum and living wage increases, rises in national insurance contributions … beer duty increases and high VAT rates, along with a recent business rates valuation increase, this price hike from Diageo is just another slap in the face.”
Rob Barr, owner of Barr and Barr Hospitality, which runs three pubs in West Sussex and Dorset, described the price hike as “extreme” and warned Diageo was making its pints “unaffordable” for pub goers.
Diageo said that Guinness 0.0, Guinness Microdraught, Guinness Draught in Can 440ml four packs would not be impacted by the price increase.