Warning price of wine could rise due to Brexit

One wine club has already decided to up price of some bottles

The price of a bottle of wine from the EU could go up by an average of 29p as a result of Brexit, drinkers have been warned.

The post-Brexit fall in sterling is having a “serious” impact on importers, and could see bottles from outside the EU also increase by an average 22p, according to the Wine and Spirit Trade Association (WSTA).

WSTA said 99% of the 1.8 billion bottles of wine drunk in the UK are imported, meaning that any added tariffs will have a “punishing” effect.

The wine club Naked Wines has already warned its members that it will be increasing the prices on half of its wines by around 5% next month, as the pound had “steadily plummeted and duty has gone up (again), meaning the cost of wine has crept up”.

WSTA said the cost of importing EU wine could go up by £225 million a year as a result of the drop in sterling’s value since June 23 and the cost of importing wine from outside the EU could go up by £188m a year.

WSTA chief executive Miles Beale said: “This is of grave concern to the wine industry and it is vital that Government come out in support of the trade which generates £17.3 billion in economic activity.

“We are just weeks away from the Autumn Statement. Any increase in duty, on top of the post-Brexit sterling devaluation, would have dire consequences on Britain’s wine trade.”