- Published on Thursday, 18 October 2012 10:54
- Written by Harpers Editorial team
Spirits prices are “fluctuating wildly” while wine and beer drinkers are enjoying low or steady inflation - that’s according to analysis by the Wilson Drinks Report.
Inflation figures published earlier this week show annual inflation on spirits in September was much higher than either beer or wine.
Data from the Office for National Statistics shows wine prices were 0.8% higher in September 2012 than in September 2011, following an annual rise of just 0.1% in August.
But spirits inflation is experiencing a much more volatile time than either beer or wine. Spirits inflation fell by 2.3% in July 2012, but this was followed by above average rises of 6.8% in August and 4.6% in September.
Beer inflation has held steady at between 2.8% and 2.9% for the last 3 months.
The low levels of inflation on wine contributed to a bigger than expected fall in headline inflation, as measured by the Consumer Prices Index. The All Items CPI index fell from 2.5% in August 2012 to 2.2% in September 2012.
The rate of inflation on restaurants and cafes fell slightly to 3%, but remains almost unchanged since January 2012.
Tim Wilson, managing director of the Wilson Drinks Report, said: “The drop in the overall rate of inflation this month has taken most people by surprise. Wine drinkers have benefitted more than other drinkers over the last two months, with prices barely rising year-on-year.
“It is interesting that beer pricing is going through a relatively stable phase, largely driven by duty increases, whereas spirit pricing is fluctuating wildly, as significant price promotions start and finish.”