Money Minute: Price of Beer Hops Up; Google Loses EU Battle

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The cost of increasingly popular craft beers could be hopping higher.

If you're a beer aficionado, you know the name India Pale Ale -- a particular type of hop favored by craft brewers. And while overall beer sales are flat, demand for craft brews has been strong. And that means the price of this particular type of hop is in short supply, and the price for it is soaring. By the way, did you know that this is American Craft Beer Week? And here's a bit of beer trivia for you: Washington state is the leading grower of hops.

It might be easier to keep your name "off the grid" following a court ruling against Google (GOOG). The European Union's top court has ruled that individuals can ask the company to remove certain links to news articles containing their name. Obviously, this could disrupt Google's entire business model -- depending upon how it's enforced. The ruling also applies to other search engines. The cause has become known as the "right to be forgotten."

Consumers in the U.S. don't think housing prices will increase by very much this year. A monthly survey by the Federal Reserve Bank of New York finds the expectation is for an increase of just 3.8 percent this year. That expectation has come down every month this year. Fed Chair Janet Yellen recently expressed concern that housing activity was "flattening out" -- due partly to the high number of people who remain concerned about their job prospects. And millennials -- the young adults who should be the first-time homebuyers that spark the market -- continue to rent instead of buy, which is keeping price in check.

Here on Wall Street, both the Dow Jones industrial average (^DJI) and the Standard & Poor's 500 index (^GPSC) rose to all-time highs Monday. The Dow gained 112 points, the S&P 500 rose 18, and the Nasdaq composite (^IXIC) rallied 72 points.

Michael Sam, the first openly gay football player to be drafted into the NFL, is apparently pretty popular with fans. His St. Louis Rams team jersey is the second-best seller among the 256 college players drafted last week. Number one is quarterback Johnny Manziel, known as "Johnny Football," and he had a two day head-start on Sam.

-Produced by Drew Trachtenberg.


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13 Comments

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GaBe

I heard this years back, saying beer will go up 400% but never happened. Only craft beers would go up because the big guys like Budweiser bought into the price of hops for years to come.

May 14 2014 at 12:07 AM Report abuse rate up rate down Reply
TERESA

EVERYTHING IS GOING UP!!! NOT JUST BEER!!!!

May 13 2014 at 6:24 PM Report abuse rate up rate down Reply
ectullis

But the price of everything is going up. Got to pay for you know what

May 13 2014 at 5:35 PM Report abuse rate up rate down Reply
Patrick

RE: you know the name India Pale Ale -- a particular type of hop favored by craft brewers.
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Wrong, it has a high content of hops. For a story far more interesting than this one, read why it has a higher content. A nice bit of history ...

May 13 2014 at 5:01 PM Report abuse rate up rate down Reply
randycoletx

Raising the price of beer is not new, they have been raising it .25 about every four months and they did it so as not to make anyone aware.Now they are gonna raise it about a buck fifty a case because they know this raise couldn't fly under the rada. They are nothing but money mongersr

May 13 2014 at 4:13 PM Report abuse rate up rate down Reply
Mike

Does this mean I can sell my p for more?

May 13 2014 at 3:31 PM Report abuse rate up rate down Reply
Robert w Vaughn

THAT'S IT THE GOVERNMENT HAS GONE TO FAR TIME TO REVOLT!

May 13 2014 at 2:15 PM Report abuse rate up rate down Reply
donjose

I like to sip my beer. So, i am not hopping mad

May 13 2014 at 11:23 AM Report abuse rate up rate down Reply
geosyncsat

I thought the price was going to go up, because the breweries will have to package and will get taxed for their waste hops as cow feed?

May 13 2014 at 9:51 AM Report abuse rate up rate down Reply
1 reply to geosyncsat's comment
Jerry

AOL/ Huffington Post news pieces are basically blogs posted by wanna be or people who think they are "journalists". AOL however is an eaiser forum to post on.

May 13 2014 at 10:19 AM Report abuse +2 rate up rate down Reply
blkjakjoe

India Pale Ale is not a hop. Nice research during Craft beer week. Centenial or Cascade are two types of hops commonly used in IPA's. Anyone that drinks IPA's is laughing at the lack of research you did on this peice.

May 13 2014 at 9:50 AM Report abuse +2 rate up rate down Reply