Brexit forces wine prices up

June 02, 2017

Brexit forces wine prices up

The Guardian has reported that the average price for a bottle of wine has hit record levels in the UK.

According to the Wine and Spirit Trade Association an extra £1 has been added to the price of sparkling wine in the UK since the Brexit referendum resulted in a leave vote. Meanwhile, still wine has broken records and now sits at an average price of £5.56.

The WSTA says the main culprit is a "weak pound". HSBC has confirmed the pound is likely to fall to a 1:1 GBP - EUR rate as Brexit negotiations go forward, putting the pound in one of its weakest positions since the Euro was introduced. This means that wine prices are likely to continue further.

Novel Wines founders decide to freeze pricing

At Novel Wines we want to introduce you to some of the most exciting wines we've discovered and we always want to do so at an honest price.

Ben and Gyorgy have decided to freeze the retail prices on our wines over the next few months to ensure we can keep sharing these unique wines with you.

If you have any feedback on our pricing or thoughts on Brexit, please get in touch and let us know.





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