Correlation does not necessarily prove causation, as
even Bronfman himself is aware:
"“It’s difficult to know, even today, if it is just consumer resistance to a higher price points or if taking a pricepoint of 30 percent more at such a fragile time (is to blame)."
So it could be the price increase, it could be the recession, or (most likely) a combination of the two.
Let the amateur economic punditry, without access to actual numbers or sales figures analysis, continue.