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“So far we have seen very little evidence of any consumer impact of rising inflation,” Hart said on a conference call following a quarterly trading statement published on Wednesday.
“But as inflation continues to increase and brewers raise prices again in the second half of this year and beginning of 2023, we see a bigger risk ahead of downtrading and lower volumes,” he said.
Anheuser-Busch InBev and Carlsberg, the world’s largest and third-largest brewers, respectively, have raised full-year profit outlook this week.
