Hops down, prices up

Bad yields for hops this year in Europe have driven up hops' price and critically decreased their availability. As a result, many non-US brewers have been purchasing a lot of the US harvest.

More from the Washington Post.

Malt prices have likewise increased; look to that as a result of energy costs increases.

The perceived wisdom in the craft beer industry has been that $9 was the highest that most consumers would be willing to pay for a standard 6-pack of craft beer. Talk is that the increased cost of ingredients will cause that ceiling to be broken in 2008.