Press Release
BPI Records First YoY Increase in 13 Months
ALEXANDRIA, Va. – The National Beer Wholesalers Association (NBWA) released the Beer Purchasers’ Index (BPI) for February 2026.
The BPI reading of 39 marks a four-point improvement from February 2025 and is even with last month’s reading. This represents the first year-over-year increase for overall BPI since January 2025.
Combined readings for at-risk inventory (47) and BPI (39) place the industry in cautionary territory for a second consecutive month — the first two-month stretch outside of contractionary territory since December 2024 through January 2025.
Across segments, Below Premium entered expansionary territory for the second time in the past year, while Cider recorded a year-over-year increase for the tenth consecutive month.
Looking across the segments for February:
- The imports index at 42 is 13-points lower than February 2025 and two points lower than January 2026.
- The craft index at 19 is two points higher than February 2025 and two points lower than January 2026.
- The premium lights index at 45 is four points higher than February 2025 and seven points higher than January 2026.
- The premium regular index at 35 is one point lower than February 2025 and three points lower than January 2026.
- The below premium index at 52 is nine points higher than February 2025 and two points higher than January 2026.
- The FMB/seltzer index at 36 is even with February 2025 and seven points lower than January 2026.
- The cider segment at 36 is 11 points higher than February 2025 and four points lower than January 2026.
About NBWA’s Beer Purchasers’ Index: BPI 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.
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The National Beer Wholesalers Association (NBWA) represents America’s 3,000 independent beer distributors who service every state, congressional district and media market across the country. Licensed at the federal and state levels, beer distributors get bottles, cans, cases and kegs from a brewer or importer to stores, restaurants and other licensed retail accounts through a transparent and accountable regulatory system.
Distributors build brands of all sizes – from familiar domestic beers to new startup labels and imports from around the world – and generate enormous consumer choice while supporting more than 135,000 quality jobs in their home communities. Beer distributors work locally to keep communities safe by sponsoring programs to promote responsible consumption, combat drunk driving and reduce underage drinking.