Wine and spirit prices rise well above inflation
The price of wines and spirits has risen by more than twice the level of inflation over the past year according to the latest market report from the Wine and Spirit Trade Association.
The report revealed that consumers are paying 6.5% more than last year for wines and spirits as a result of duty tax rises.
Against a backdrop of declining sales overall, sales at the upper end of the market were found to be growing. Wine sales above £10 were up 32% for the year to the end of April while volumes of wine sold between £9 and £10 rose by 22% on the previous year.
Commenting on the latest market report WSTA interim chief executive Gavin Partington said:”The above inflation increase in the prices of wines and spirits comes as consumers are feeling the pinch and being forced to cut back so it’s perhaps not surprising that volume sales overall are depressed.
Never Miss a Retail Update!“But there are encouraging signs elsewhere with wine at higher price points showing strong growth over the year.”
The WSTA is the UK organisation for the wine and spirit industry representing over 340 companies producing, importing, transporting and selling wines and spirits.
