Corona Maker Raising Beer Prices Over Glass Shortage, Inflation

Constellation Brands Inc., the maker of alcoholic drinks including Corona and Modelo, said it expects to hike beer prices more than its typical 1% to 2% this coming year due to rising commodity costs and a shortage of brown glass.

Chief Financial Officer Garth Hankinson said on the company’s third-quarter earnings call Thursday that margins in the core beer business may suffer in the coming fiscal year in part because of inflation in commodity prices. He still expects operating margins for the beer business to be around 39% to 40% over the long term.