A local publican has criticised the decision by Diageo to increase the price of Guinness by 20c from next month.
Diageo outlined this week that in order to maintain sustainable operations in Ireland, publicans have been informed that there will be an increase to the prices on its draught product range.
The Vintners’ Federation of Ireland (VFI) has said that drink costs are the single biggest cost facing all publicans.
It believes that this latest increase comes at a time when margins are already being eroded by rising labour costs, high energy prices and ongoing inflation across all areas of the business.
Local Cllr. Raymond Aughey, who owns the Squealing Pig in Monaghan Town, has also criticised Diageo’s decision.
Speaking to Northern Sound, he explained the implications of a rising price of a pint for publicans, and the general public.
Cllr. Aughey said: “We’re not €10 for a pint, we’re €5.50 for a pint at the minute, I’d say that is replicated over the Monaghan- Cavan area. If you move that to the Euro back to the punt, that’s probably four pound in old money, as I call it.
“The way Guinness is citing costs, I’m sure there is rising costs. But its actually Diageo, they have a lot more products than just Guinness. They Smirnoff, Gordon’s, a whole portfolio, they are answering to their shareholders, their shareholders want return.
“If they don’t watch it, there’s a thing called diminishing return- there’ll be less people going out, less people drinking,” Cllr. Aughey explained.