The price of alcohol is set to rise in just over a month with a tax increase on tap for Ontario, along with the rest of the country.
This excise tax automatically climbs every year in accordance with the rate of inflation. When it was introduced in 2017, the federal tax on alcohol rose by two per cent.
“Our suppliers set their own pricing and have the option to adjust their pricing up or down throughout the year in response to currency fluctuations, federal taxes or freight rate changes, or price changes by their competitors,” an LCBO spokesperson said. “What we are forecasting is if this goes ahead, the price of a 12 pack in Ontario, given everything going on, would go up about 10 per cent,” CJ Hélie, President of Beer Canada, told CTV News Toronto. That increase would be due to a compilation of cost increases across the board for the beer sector, including the price of barley, corn and transportation, alongside the tax.
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