Cost of gin soars six per cent in a year as sales of Mother’s Ruin rocket
The price of gin has risen six per cent in the past 12 months as sales of the spirit were up by £45million
THE cost of gin is up six per cent in a year but Brits’ thirst for the tipple shows no sign of being quenched.
Analysts Brand View said prices had risen across 127 products while Kantar Worldpanel found sales were up £45million (13.5 per cent).
Duty rises added to a total UK spend on gin last year of £380.5million.
But Pernod Ricard, owner of Plymouth Gin (up seven per cent) and Beefeater (up 6.3 per cent) blames Brexit for hikes.
Wine & Spirit Trade Association chief executive Miles Beale said: “Currently 77 per cent of the average-priced bottle of gin goes on excise duty and VAT.”
Trade magazine The Grocer said: “ Shoppers can expect to pay more for Mother’s Ruin this Christmas as supermarket gin prices have surged in the wake of duty rises earlier this year. “
The UK’s bestselling gin Gordon’s is up just 0.7per cent to £14.70 for a 70cl bottle although the price of 100cl of Gordon’s is up 2.7per cent to £17.50.
But The Grocer said that even brands whose prices have risen significantly are selling strong. All of Britain’s top 10 gin brands grew in value this year with the likes of Gordon’s, Tanqueray, Greenall’s and Hendrick’s in double-digit growth.