Irish may cut beer prices
One-fifth of inflation blamed on rising drink prices
June 19, 2000 - Irish Finance Minister Charlie McCreevy may order that pubs cut the price of beer in order to help fight soaring inflation.
Inflation in Ireland has reached a 15-year high of 5.2%, the highest in the European Union. Michael Kilcoyne, chairman of the Consumers Association of Ireland, said 20% of the current inflation rate was caused by the rise in the price of drinks. "The drinks industry in Ireland is a protected cartel which needs to be broken up," he said.
Although the biggest profit margins are made on soft drinks -- some pubs mark up mineral water 400% -- McCreevy is looking at cutting the price of a pint of beer by IR40p.
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