As grocery prices continue to rise dramatically, many American consumers are curious about how this trend affects their favorite beverages, specifically beer prices over the decades. The beer market has transformed significantly from the 1970s to the 2020s, shifting from a few dominant brands like Budweiser, Miller High Life, and Coors to a plethora of craft beer options.

In the 1970s, shoppers at the Albany Public Market in New York would find a six-pack of Miller High Life for $0.99 in June and Budweiser even cheaper at $0.89 in March. Fast forward to today, prices have escalated markedly. A six-pack of Miller High Life now costs around $5.99, a 600% increase (though the current cans are larger at 16 ounces instead of 12). Budweiser’s price is harder to compare directly as six-packs have largely fallen out of favor; currently, a 12-pack of Budweiser retails for about $13.99, equating to nearly $7 for six cans, representing an increase of roughly 800%.

Understanding these price changes in the context of inflation reveals a more nuanced picture. The Bureau of Labor Statistics estimates the buying power of $1 in 1970 to be approximately $8.60 today. Thus, while beer prices have indeed risen, they have done so at a slower rate than general inflation, suggesting that modern beer prices are comparable to those from the 1970s when adjusted for inflation.

The reason behind beer prices not keeping pace with inflation relates to the economics of beer production. Major beer producers have optimized their processes, allowing them to reduce costs via bulk ingredient purchases and efficient packaging. This stability in large-scale brewing keeps prices lower. In contrast, craft beers, which are produced in smaller quantities with more expensive ingredients, often command higher prices. The average six-pack of craft beer can go for around $11, indicating the premium consumers pay for these artisanal options.

Ultimately, while sticker shock may accompany the current prices at checkout, consumers still enjoy a fair deal with big-brand beers today when inflation is taken into account. The trade-off lies in the vastly expanded market options—where once there were only a few selections, now there are thousands of craft varieties to choose from, each with their own price tags.