A liter of beer at Munich’s Oktoberfest will cost an average of €15.61 ($18.50) this year, according to an analysis cited by DW. The traditional serving, known as a Mass, cost the equivalent of about €3.20 in 1985 after converting its price of 6.25 Deutschmarks at the fixed euro exchange rate.
UniCredit’s chief economist in Germany, Andreas Rees, analyzed figures from Munich’s statistical office ahead of the festival’s opening. His analysis indicates that Oktoberfest beer prices have risen by around 400% since 1985, while consumer prices across Germany have increased by about 120% over the same period.
The latest increase is more restrained. The average price of a Mass is up 2.4% from last year, below Germany’s expected overall inflation rate of close to 3%. DW described the increase as the smallest in two decades, based on the figures attributed to Rees.
Rees said Oktoberfest prices reflect several factors, including harvest conditions, energy costs, wages, tent expenses, security and visitors’ willingness to spend. He also pointed to lower hop prices and stabilized malting-barley costs as possible reasons for the more modest rise this year.
Oktoberfest is described by DW as the world’s largest folk festival. The event dates back to 1810 and takes place at Munich’s Theresienwiese, known locally as the Wiesn. The festival is expected to attract between 6 million and 7 million visitors this year.
The event is formally opened when Munich’s mayor taps the first barrel. Visitors traditionally include both locals and tourists, many of whom wear Bavarian lederhosen and dirndl dresses on the festival grounds.