The National Beer Wholesalers Association released the Beer Purchasers’ Index (BPI) for May. Following the highest BPI reading since 2021, the May index continues to show a steady buildup of distributor inventory as the industry prepares for summer. The BPI remained “deep in expansion territory” at 63, an 11-point increase from May 2023 and identical to last month’s reading. The combined readings of expansionary BPI and contracting at-risk inventory—which remained below the benchmark (50) at 47, down from 61 in May 2023—indicate a positive outlook for the warm-weather selling season. Five segments recorded positive year-over-year growth, led by 16- and 10-point jumps for FMB/Seltzer and Premium Regular, respectively. However, the Craft segment continues to struggle, seeing its 27th straight month of contraction. This update marks the fourth consecutive month of sequential improvement.