Budweiser owner Anheuser-Busch InBev on Thursday posted a fall in yearly sales, even as revenue grew on the back of higher beer prices.

The world’s biggest brewer recorded annual revenue of $59.38 billion, up 7.8%, but shy of analyst expectations of $60.48 billion, according to an LSEG-compiled consensus. Volumes sold fell by 1.7%, with beer brands declining by 2.3%.

The company faced a turbulent year as the beer industry faced higher input costs and a squeeze on consumer spending, while it also became embroiled in a social media-driven boycott of its core Bud Light brand that dented U.S. sales.

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