Mexico: Grupo Modelo plans beer price hike since January 1
Grupo Modelo, the Mexican brewery half owned by Anheuser-Busch Cos. Inc., plans to raise its beer prices in Mexico Jan. 1, Bizjournals.com communicated on December 29.
The increase will be in line with expected inflation, the the Mexico City-basedbrewer reportedly said in a Dec. 23 filing with the Mexican Stock Exchange. Modelo also said the increase takes into account tax law changes favoring recycled containers.
Mexico's annual inflation rate fell to 2.9 percent at the end of November but is expected to climb to 3.5 percent by many fund managers, according to media reports.
Grupo Modelo exports five brands, including Corona products, and is the exclusive importer and distributor of Anheuser-Busch's products in Mexico. St. Louis-based Anheuser-Busch Cos. Inc., the largest domestic brewer, manufactures and recycles aluminum cans and operates theme parks.
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