Uganda Breweries Limited(UBL) announced Wednesday 4th May 2022 revised rates for their products with immediate effect. The brewer has added a 16% increment on the retail price of most products.
The firm, which sells Bell lager, Guinness, Tusker, and best-selling signature gin, Uganda Waragi blamed the price changes on the skyrocketing cost of ingredients.
UBL Sales Director, Ben Mbuvi said the increasing cost of production and cost of raw materials forced them to adjust the prices of their wide range of products.
However, Mbuvi said the retail prices for Pilsner lager, Ngule, Senator lager, and Smirnoff Ice had remained the same.
In Uganda, the inflation rate has been reported to have increased by 3.7% and 4.9% between January and March 2022. The rise is projected by economists to hit 7% this year.
The cost of fuel, energy, and food items has since gone up twice as much this year. The government maintains that the unrests between Russia and Ukraine in tandem with the hostile impacts of the COVID-19 pandemic are to blame for the soaring prices.
Meanwhile, their counterparts at Nile Breweries Limited are not planning any increase in prices, Gateway News has learnt.