Brexit has driven up wine prices in the United Kingdom, with forecasts predicting that it will become increasingly expensive for British wine lovers to sip on their favorite glass of chardonnay or cabernet.
According to a new report from the Wine and Spirit Trade Association, the average price of a bottle of wine rose more in the last 12 weeks, than it has in the last two years.
After passing the £5.50 threshold for the first time in the last quarter of 2016, the average price of a bottle of wine has hit an all-time high of £5.56, due to the plummeting value of the pound. That means consumers are paying 16 pence more today for a bottle of wine compared to the same period last year, and 19 pence more compared to 2015.
The association, which represents the wine and spirits industry, also forecast that wine prices will continue to rise due to the effects of inflation and a new duty increase that is projected to add another 8 pence to the average price of wine. JB