Spirits brands hike prices by upto 16% and blame Brexit for increasing their supply-side costs
Drink loving Brexiteers may have cause to reconsider their enthusiasm for Britain leaving the EU.
Since last year’s referendum, the price of vodka has risen 5% on average whilst gin is up 3%. Bombay Sapphire has hiked its price by 16% to £24.20 for a litre bottle according to The Grocer and many other brands have followed suit.
Worldwide co-leader in the wine and spirits sector Pernod Ricard blamed the increases on supply-side costs rising due to Brexit whilst The Wine and Spirit Trading Association added that the Chancellor, Philip Hammond, has added to the industry’s woes and created “a tough trading environment”.