From February 1, the tax on alcoholic beverages will increase by 3.66%, affecting the price of drinks across the country. Industry representatives have indicated that this change is likely to lead to higher retail prices for consumers.
The duty rise is part of a scheduled adjustment linked to inflation, impacting all categories of alcohol. Retailers and producers are preparing for the cost changes to take effect immediately.
**Why this matters**
The increase in alcohol duty can influence consumer spending and the affordability of alcoholic products. It may also affect sales volumes and the broader hospitality sector, as businesses adjust to the new tax rates.