Oktoberfest: 153 litres of beer per ounce of gold

The starting signal for the annual Oktoberfest – also called the “Wiesn” – in Munich, Germany, regularly prompts discussions about the continuously rising prices per litre of beer. It will, however, probably never again lead to a popular uprising like that of the Oktoberfest in 1844, when soldiers called in by King Ludwig I joined the rebels and “sabotaged” the planned beer price increase. 

The Gold/Wiesnbier ratio: a comparison of price trends from 1950 to present

A special edition of Incrementum AG’s ‘In Gold we Trust’ report has calculated for each Oktoberfest of the last 75 years how many litres of Wiesn beer can be purchased with one ounce of gold. First things first: in most years, it would have been worth putting gold aside for the next Oktoberfest, and this is especially true this year. While the beer price has risen unusually moderately by Oktoberfest standards – by 2.6 per cent from €14.90 to 15.30 – the price of gold per gram has increased by 30.1 per cent since September 2023, from €57.97 to 75.44. One ounce of gold could therefore buy no less than 153 litres of Wiesn beer this year – 34 more than last year.

1980 was the best year for thirsty visitors

When comparing the annual Wiesnbier and gold prices, it quickly becomes clear that the two price trends do not correlate. For example, 1980 was the most pleasing year for beer enthusiasts: an ounce of gold would have bought an impressive 227 litres. The year 2000, on the other hand, left beer lovers thirsty: although the price of gold had risen by 10 per cent that year, one ounce of gold would have paid for just 50 litres of beer. The Gold/Wiesnbier ratio data makes one thing very clear: in most cases, the precious metal more than compensated for the price rise of Wiesn beer. Only 12 times over the last 75 years did the price of gold increase by a lower percentage than that of Wiesn beer.