More Brexit woes?
The drinks industry has warned that champagne drinkers will see prices rise over the next year as the Brexit vote takes its toll.
Brexit, inflation and the possible rise in alcohol duty will push up prices of champagne and prosecco in the UK by £1 and 59p per bottle respectively, this is according to the Wine and Spirit Trade Association.
Duty on a bottle of still wine in the UK sits at £2.08, this means 55 per cent of the average price bottle goes on duty and VAT, sparkling wines duty is 28 per cent higher than still wine.
On Valentine’s Day, a couple sharing a bottle of wine including champagne in the UK will pay £2.67 whereas those in France will spend slightly less than 6p.
The UK is the biggest export market for French sparkling wine.
Miles Beale, chief executive of the Wine and Spirit Trade Association, said: “With Brexit costing 29p per bottle and rising inflation indicated by the Bank of England last week adding a further 17p, further duty rises could make it a triple whammy for consumers who are already paying a staggering amount of wine and spirit duty,”