The falling pound could increase the cost of a pint in the pub due to the soaring cost of imported beer and hops, a brewery boss warned today.
Today, the pound dropped to its lowest level against the dollar since decimalisation was started in 1971. It sunk to just $1.0327, below even the 1985 baseline of $1.0545 – parking panic in some markets.
This morning Paul Davies, CEO at Carlsberg Marston’s Brewing Company, suggested the fall of the pound may cause a rise in beer prices.
He told BBC Radio 4’s Today programme that the drop was ‘worrying’ for the British beer industry, which imports beer and hops from overseas.
The pound is down eight per cent since Liz Truss was elected PM three weeks ago and down approaching 25 per cent since that start of the year. It is a similar story for the euro
The fall followed Kwasi Kwarteng’s dramatic ‘mini-budget’ last week, as well as a broader fall in global currencies
Asked if the value of the pound mattered, he said: ‘Yes…