Cost of a bottle of wine rises to an all-time high – but here’s how you can still bag a bargain…
The latest industry data shows the average price of a bottle has now hit £5.56
WINE lovers across the UK are facing higher prices than ever for a bottle of plonk as the weak pound pushes up prices, the drinks industry has warned.
The Wine and Spirit Trade Association’s (WSTA) latest report found the average price of a bottle of wine jumped more in the last 12 weeks than it had in the last two years.
In the last three months of 2016 an average priced bottle of wine sold in the UK passed the £5.50 mark for the first time ever and the latest industry data shows it has now hit £5.56 – an all-time high.
And there is worst news to come for British wine drinkers as these figures do not take into account the impact of the inflationary duty rise – at a painful 3.9 per cent - inflicted by the Chancellor Philip Hammond in the March Budget, which is adding another 8p to the average priced bottle of wine.
9 easy ways to cut your booze costs
WE spoke Steve Nowottny, news and features editor at MoneySavingExpert.com and Hannah Maundrell, editor in chief of money.co.uk about how you can spend less for great wine:
- Be aware of marketing tricks: Remember a supermarket’s job is to make us spend. So don’t be hoodwinked by stores’ marketing tricks, such as hiding bargain products on the bottom shelf and using sales-type signage for non-sale items.
- Drop one brand level as you shop: Premium to branded, branded to regular, regular to value. Doing this on everything you buy could save some an estimated 30 per cent off your bill.
- Don't be a supermarket snob: Aldi and Lidl have decent wine at really good prices. Have some fun with this and do a blind taste test.
- Be wary of duty free: You might think you’re getting a bargain when you buy duty free but you may find cheaper elsewhere.
- Buy in bulk: Buying wine in cases will often give you the best value for your money. Look out for deals in supermarkets which give you 25 per cent off when buying 6 bottles.
- Download the wine app Vivino: You can take a photo of any wine label and it will compare prices for you.
- Sign up to an online wine club: Signing up to online wine clubs like Virgin wines will mean you earn rewards and get great deals - but beware of rip-offs too.
- Buy with friends: If you like a bargain but don’t want to splash out too much, consider splitting the cost with friends.
Almost 60 per cent of the money Brits pay for a bottle of wine, the equivalent to £2.16, goes on wine duty, according to the WSTA.
It is even more for a bottle of sparkling wine at £2.77.
Miles Beale, chief executive of the WSTA said both British businesses and consumers should prepare themselves for more price rises.
"Sadly this is now a reality as an average priced bottle of wine in the UK is at an all-time high," he said.
"Unfortunately, for both British businesses and consumers, we are clear that this is not a one-off adjustment, but rather that wine prices will continue to rise," he added.
Earlier this year, the WSTA already warned that a “triple whammy” of higher inflation, a weaker pound and potential duty increases could push up champagne and prosecco prices in the country by 5 per cent, or £1, and 9 per cent, or 59p per bottle, respectively.
Inflation jumped unexpectedly to 2.7 per cent in April, the highest since September 2013, according to the latest data from the Office for National Statistic.
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