Pernod Ricard, owner of Absolut, Jameson and Malibu, confirmed it's increased the prices of its spirits

 
Courtney Goldsmith
Follow Courtney
Swedens Absolut Vodka Is Offered For Sale
Pernod Ricard said Brexit has caused it to up its prices (Source: Getty)

Prices of Absolut Vodka, Jameson, Malibu and other popular spirits have increased due to the slump in the pound's value following the Brexit vote.

Pernod Ricard, the French drinks giant, released documents ahead of an analyst call today that confirmed the group hiked prices in March to offset the currency's decline and the impact of inflation.

"Brexit is leading to a strong pound depreciation, with inflation expected higher as a reaction. In that context, Pernod Ricard increased prices in March," it said.

Pernod's finance chief, Gilles Bogaert, first revealed the company's plans to increase prices in the UK to protect margins in October.

The firm, which is the second-largest drinks company in the world, previously said sales in Britain rose seven per cent in the first half of the 2016-2017 fiscal year.

Read more: Booze on the up? Pernod plans to price changes due to weakening pound

Related articles