NEW YORK – The price of beer may be heading for an increase this fall as a growing number of companies are signaling they will test the water on price increases, writes CNBC this week.

According to the news source, Constellation Brands was the first reported to be planning a price hike. The company plans to raise prices on its brands like Corona and Modelo Especial by 3% in some states this fall, according to Beer Marketer's Insights. Florida and California, which accounts for about a quarter of Constellation's total sales volume, can expect prices to rise by about 75 cents. CNBC writes that the move comes as Constellation is on a roll, delivering results that are among the best in the industry and accounting for about two-thirds of the total U.S. beer industry volume growth.

At the same time, other companies like Boston Beer Co., could be facing higher production costs as the result of drought conditions in Washington's Yakima Valley, which accounts for 75% of the hops grown in the United States. The company, whose portfolio includes Samuel Adams, has said that it expects national price increases of 1 to 2% among its brands.

While market leader Anheuser-Busch has yet to announce its pricing plan, it has a history of announcing price increases in the fall and it would not be a surprise for the brewing giant to once again push pricing in certain markets, writes CNBC.

Retailers are already seeing their costs increase on keg beer, with some warning that they are likely to pass the increase along to consumers through higher draft beer prices. At a time when beer is losing share to wine and spirits, there may be an additional cause for concern about the industry's ability to withstand widespread price hikes.