Restaurants are raising wine prices, report says
1We’d been warned. A looming shortage of wine grapes caused grape prices to jump last year, and wine prices were sure to follow. Now a new report shows that prices for wines by the glass at restaurants have steadily increased during the past six months as wine inventories shrink.
Wine drinkers who saw a buyer’s market during the recession will have to get used to higher prices as the shortage continues and demand expands.
The Los Angeles Times’ Tiffany Hsu reports that?1?most significantly at either end of the dining spectrum. At white-tablecloth restaurants, wine prices climbed 5.4%, according to Restaurant Sciences, a firm that tracks food and beverage product sales. And at family-dining establishments, where the average meal costs $38.50 or less, prices surged 8.4%.
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Source: Betty Hallock (2013). Restaurants are raising wine prices, report says, Los Angeles Times http://www.latimes.com/features/food/dailydish/la-dd-restaurants-are-raising-wine-prices-report-says-20130503,0,2143277.story published May 03, 2013. Viewed May 06, 2013,