Gin prices increase by 6%

4th October, 2017 by Michael J Ritchie

The price of gin has risen by 6% in the last 12 months across 127 brands, according to research by global analysts Brand View.

Sales of gin have gone up by 6% in the last 12 months

BrandView has revealed that a bottle of gin is now, on average, 6% more expensive than it was last year.

Beefeater gin has risen by 6.3% to £17 and Plymouth Gin has increased by 7% to £25.50 a bottle. While not as drastic, both Bombay Sapphire and Hendrick’s are up 3.8% to £20.75 and £28 respectively.

The industry fears that further price rises could happen if spirits taxes are upped again in the November budget.

Miles Beale, chief executive of the Wine & Spirit Trade Association, said: “Currently, 77% of the average priced bottle of gin goes on tax – duty plus VAT – meaning upwards of £10.35 can go directly to the Treasury.”

Gin’s popularity, however, shows no sign of slowing down, and in the last year the number of gin distilleries in the UK has increased by a fifth to 131, according to the accountancy group UHY Hacker Young.

James Simmonds, of UHY Hacker Young, added: “Five years ago, artisan gin was a relatively unknown product, but now it’s very common to see five or ten different premium gins on the menu or on a supermarket shelf.”

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