WSTA warns of Brexit pain as wine prices rise fur­ther

Decanter - - A MONTH IN WINE -

The average price of a bot­tle of wine in the UK rose to £ 5.58 be­tween the Chan­cel­lor’s Bud­get in March and 17 June 2017, up 4% on the pre­vi­ous year.

So said the latest state­ment from the Wine and Spirit Trade As­so­ci­a­tion ( WSTA), which co­in­cided with Par­lia­ment’s first read­ing of a Brexit ‘di­vorce’ bill that would trans­fer EU rules into UK law.

Average wine prices had passed the £ 5.50 mark for the first time in the fi­nal three months of 2016, the trade body said.

While there may be no im­me­di­ate im­pact for drinkers of pre­mium and fine wines, the WSTA warned that the in­dus­try is fac­ing price pres­sures in the au­tumn. ‘ For the first time we can see how prices have been af­fected by the triple whammy re­sult­ing from Brexit’s im­pact on the pound, ris­ing in­fla­tion and the 3.9% in­fla­tion­ary duty rise on al­co­hol im­posed by the Chan­cel­lor at his Bud­get in March,’ said the WSTA. ‘ The pain doesn’t end here,’ said WSTA chief ex­ec­u­tive Miles Beale. ‘The au­tumn Bud­get is set to see al­co­hol duty rise by in­fla­tion once again,’ he added, calling for a ‘ time out’ on tax rises. The WSTA has com­mit­ted to work­ing with Govern­ment to achieve the best pos­si­ble deal in Brexit ne­go­ti­a­tions.

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