The US alcohol industry, already struggling with falling demand, is being further hit by inflation.
The Jim Beam bourbon distillery in Kentucky has closed its still until at least 2027, and many other brands have done likewise: The state is sitting on 16.1 million unsold barrels, 10 years’ supply, having boosted production during the pandemic when people were drinking more at home.
Americans are increasingly health-conscious, while trade wars have dented exports, The Wall Street Journal reported. The rising cost of alcohol is pushing even those who want to drink to do so less; $20 cocktails are too rich for most consumers’ wallets, Bloomberg noted, leading to the rise of more affordable versions using less expensive ingredients.