Beer demand stumbles as gas prices surge, data show
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U.S. beer sales have dropped more sharply than expected, as new scanner data points to weakness in the category. The slowdown is also raising concerns on Wall Street that higher gasoline prices may be pressuring discretionary spending, especially in convenience retail. Beer, full malt beverages (FMB) and cider volumes fell 6.3% year over year through the week ending May 2, both on a two- and four-week trailing basis, according to Nielsen-tracked data. That's worse than the trends seen between
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