Drop in pound could push up price of pint, brewery bosses warn

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The pound fell to its lowest level against the US dollar since 1971 on Monday morning, with experts warning the drop could cause the price of goods to rise and worsen the current cost-of-living crisis. open image in gallery Experts warn the drop could cause the price of goods to rise and worsen the current cost-of-living crisis “Changes in currency is actually worrying for industry, and then of course people drink a lot of imported beers from Europe, and the euro versus the pound is also something we’re watching very closely at the moment.” The pound also fell against the euro on Monday morning by around six per cent over the past month. “I would say as an industry we’re generally using British barley and we’re using a lot of British hops, but of course, if you’re drinking double IPA that requires a lot of Citra hop and other hops from the States, at some point that is going to have to be passed through to both the customer and the consumer if prices are this volatile.” Experts say grocery inflation increased by 12.4 per cent in August as the food and drink industry had already come under pressure from energy cost increases. Giles Hurley, chief executive officer of Aldi, said currency value could impact its product supply but it was “too early” to say if it would result in higher prices.