Why is the Cost of Beer Skyrocketing?

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We asked our listeners recently what is the one thing you can't live without. One Takeaway listener, named Mike said, "I absolutely could not live without ice cold beer. God bless America!" Indeed, God bless America, where if you're a beer drinker like Mike, you might find the cost of your pint going up. Is that because of the rice in global food prices? Or an increased supply because of down in the dumps recession times?

Louise Story, Wall Street and Finance reporter for The New York Times explains why our beloved beer is costing more these days.