Demand for beer stumbles as gas prices become high
(CNN)– A barometer you may not expect could be showing just how much consumers are feeling high gas prices is beer sales.
Nielsen data finds beer, cider and flavored malt beverage sales fell 6.3%, year-over-year for the week ending May 2.
A few things could explain why but some analysts are pinning it on gas prices for a couple reasons.
Sales dropped even more at gas stations and convenience stores where spending is considered to be more impulse-based.
Sales are also down more in states where gas is most expensive.
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