Brexit takes the rap for rising cost of bottle of wine
Brexit has already pushed the price of a bottle of wine to an all-time high, with further rises predicted, a trade body said.
The average price of a bottle has risen more in the last 12 weeks than over the last two years, passing the £5.50 mark at the end of last year to reach £5.56 now, the Wine and Spirit Trade Association (WSTA) said.
It blamed the impact of Brexit, which saw the value of the pound plummet and push up the cost of imports, leading to rising inflation. This had led to a 3% increase on wine prices in 12 weeks to the beginning of 2017 compared with a 1% increase over the previous two years, not including the rise of 3.9% in alcohol duty announced in the March Budget, adding another 8p to a bottle.
The WSTA warned in October that the price of a bottle of wine from the EU could go up by an average of 29p as a result of Brexit.