Sep 24th 2012, 16:04 by The Economist online
How long does it take to afford a beer?
ON SEPTEMBER 22nd, the beer started flowing at Oktoberfest
in Munich, an annual Bavarian beer festival which confusingly begins at
the end of September. Last year, over the course of the 16-day event,
visitors glugged 7.5m litres of beer, sold at an average princely price
of €9 ($12.50) a litre, which is what a typical large stein holds.
Germans love beer and down around 100 litres per person a year. Away
from the Oktoberfest beer is readily affordable. Analysts at UBS, a
Swiss bank, have calculated that it takes a German earning the national
median wage just under seven minutes of work to purchase half a litre of
beer at a retail outlet. At the bottom of the pint glass, low wages and
high taxes mean that boozers in India must toil for nearly an hour
before they have earned enough to quench their thirst.
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