The price increases were announced two weeks ago, with the price of stout expected to increase by as much as 25 cents.

The price hikes come after Heineken, one of Diageo’s competitors, also announced price increases back in December, citing rising costs.

Paul Moynihan, president of the Vintners Federation of Ireland, told the Irish Mirror: “Diageo’s increase of 12c, plus VAT, is probably double the normal increases that we are used to absorbing.

“There’s no way publicans will not be able to pass on this price increase. There might be the odd one, but it’s so difficult now that I think all publicans will have to [pass it on].

“Costs are going through the roof. The public is aware of that, but we are still doing our best to offer value to our customers. They are having a tough time, too.”

With the new increases, the price of a pint of Guinness in Dublin City Centre is expected to rise to over €8 in some pubs.