Back in February, the cost of spirits and beer went up about 50 cents a flask or doz box, and bottles of wine by about 30 cents. The spike will result in an additional ~$3 million for the NLC this year. While a yearly hike is fairly commonplace, rumour has it a second price hike is coming in 2015.
Because non-Canadian products are imported from countries worldwide, NLC’s prices can be affected by fluctuating exchange rates. And that’s what’s happening here. Because some US suppliers are demanding to be paid in US funds, meeting the rate of foreign exchange will likely lead to an increase on prices of certain American products.
If so, about 75 American products will increase by roughly 10%, and we’ll be seeing a second increase in a year on our Napa Valley cabs, Oregon pinot noirs, American IPAs, Kentucky bourbons, and other American standards.