In a significant move impacting the local beverage industry, Trinidad and Tobago’s leading alcohol producers, Carib Brewery and Angostura, have announced substantial price increases across their product lines. This decision comes in response to the government’s recent doubling of excise duties on spirits, beer, and tobacco, as outlined in the 2026 national budget. Finance Minister Davendranath Tancoo revealed on October 13 that excise duties on spirits have surged from $79.25 to $158.50 per litre of pure alcohol, while beer duties rose from $5.14 to $10.28 by gravity. Cigarette excise also doubled to $10.52 per pack of 20, effective immediately. Excise duty, a tax levied on domestically manufactured goods, directly affects local producers like Carib Brewery and Angostura before similar adjustments are applied to imported products. Carib Brewery announced on October 16 that its new prices would take effect immediately, describing the move as a ‘responsible and measured response’ to the government’s fiscal policy. The company emphasized its efforts to minimize price hikes, adjusting only where necessary. Notable increases include Carib, Stag, and Pilsner rising to $13 per bottle from $10, while Royal Extra Stout now costs $15, up from under $10. Heineken and Guinness have jumped to $22 from under $16. Non-alcoholic beverages like Malta and Shandy have also seen price increases. Angostura, meanwhile, announced its price adjustments would take effect on October 17, citing the need to ensure business continuity and maintain its workforce of over 537 employees. The company expressed support for the government’s fiscal sustainability efforts while reaffirming its commitment to product quality and international market presence. The price hikes have sparked mixed reactions among consumers, with some criticizing the timing amid economic challenges, while others remain unfazed. Bar owners anticipate further price adjustments as new stock arrives. Finance Minister Tancoo defended the excise duty increase as a measure to boost revenue and promote responsible consumption, noting that the last major revision occurred nearly a decade ago. Both Carib Brewery and Angostura have pledged to continue supporting the local economy and maintaining product quality despite the new tax burden.