So much for my very clever idea that beer rises to the top during tougher economic times if the situation at Red Stripe is anything to go by:

Red Stripe, the Jamaican brewers of beer, has blamed a soft economy that slowed demand and rising cost of inputs, including energy and raw materials, for a 26 per cent decline in the after-tax profit for its financial year to June 30. Domestic sales volume fell, as did exports. "While it may be true that our brands are price-sensitive, there were other macroeconomic factors, such as inflation, that would have negatively impacted volumes to an even greater extent," said the company's corporate spokesperson, Maxine Whittingham.

There are a couple of things going on here. First, let's be honest. I have no idea about economic and cultural conditions in Jamaica this year - or anywhere else - even though I have a ska collection that most of you should really really envy. Also, Red Stripe as an export is a "premium" beer which means, of course, that it is not a premium quality beer just a beer at which a lot of marketing money is thrown. Note that exports fell as well as domestic sales. This may not be just about Jamaica. And now that I think of it, I wonder if I have ever even had a Red Stripe? Finally, there is no indication that this is about a drop in all beer sales in Jamaica or just Red Stripe - though the article does say that the brand represents 90% of national consumption. Wow. One more thing - there may be nothing from which a consumer trades down to get to beer. Red Stripe in this market may actual be the thing which is no longer affordable.

So, nothing yet which is going to push me off my self-pedestalled position as amateur economist to the brewing trade. And isn't the world a better place because of it?