Wine and Spirits Gaining on Beer Again

The last time we had this scare was in 2005. At the time, August Busch IV explained to me that the beer industry had taken too much pricing above CPI which drove consumers into the willing arms of wine and spirits. The price war of Summer 2005, he explained, would fix that. This time, the beer industry has again taken aggressive pricing. However, the conventional wisdom was that, due to the recession, wine and spirits would still lag behind beer