Danish brewer Carlsberg (OTC:CABGY) hasn’t seen much evidence that rising inflation is hurting beer sales, but Chief Executive Cees ‘t Hart said on Thursday that could change if brewers keep raising prices.
“So far, we haven’t seen much evidence that rising inflation has had any effect on consumers,” Hart said on a conference call after a quarterly trading statement came out on Wednesday.
But as inflation continues to rise and brewers raise prices again in the second half of this year and at the start of 2023, we see a higher risk of downtrading and lower volumes, “he said.
The world’s largest and third-largest brewers, Anheuser-Busch InBev and Carlsberg, have both raised their full-year profit forecasts this week.