In order to create new growth within the drinks sector, the International Alliance of Brewers today announced plans to lower the price of beer by 10% globally within the next two years.

This will coincide with the falling price of hops and barley, brought about by improved means of production demonstrated at trade shows in the last five years.

It is expected that beer’s leading competitors - wines and cocktails - could follow suit in order to keep prices competitive.

Research released last year showed that the price of a pint has grown 700% over the last one hundred years – above that of inflation – so the price dip will come as good news to regular beer drinkers.

However, some industry leaders have expressed concern with the plan, believing that the reduced price will lower office productivity due to hangovers and voluntary sick days.

— NFN's Oliver Frost contributed to this report.