National Beer Wholesalers Association's Beer Purchasers' Index hit its highest level in January since July 2025, posting a 14-point jump since December.

All segments except Cider posted higher month-over-month readings, led by the first Below Premium reading of 50 in over a year.

The combination of index readings for at-risk inventory (45) and BPI (39) moves the industry from contractionary to cautionary positioning to start the new year.

Looking across the segments for January:

• The imports index at 44 is 17-points lower than January 2025 and eight points higher than December 2025.
• The craft index at 21 is five points lower than January 2025 and seven points higher than December 2025. 
• The premium lights index at 38 is 11-points lower than January 2025 and 14-points higher than December 2025.
• The premium regular index at 38 is seven points lower than January 2025 and 14-points higher than December 2025.
• The below premium index at 50 is six points lower than January 2025 and 10-points higher than December 2025.
• The FMB/seltzer index at 43 is three points lower than January 2025 and 12-points higher than December 2025.
• The cider segment at 42 is 11-points higher than January 2025 and two points lower than December 2025.

NBWA's Beer Purchasers' Index is the only forward-looking indicator for distributors to measure expected beer demand. The index surveys beer distributors’ purchases across different segments and compares them to previous years. A reading greater than 50 indicates the segment is expanding, while a reading below 50 indicates the segment is contracting.