Gin prices are the only tonic against the nation’s soaring inflation – but even this may not last.
As costs continue to rocket and the consumer prices index climbed to 11.1% last month, gin has bucked the trend.
It is the only popular weekly shop product that has fractionally fallen in price. BBC Food and Drink expert Joe Wadsack believes the reason is that gin was already overpriced.
He said customers paid attention to how much a bottle of wine might cost, but were happy to pay more for gin. He said: “With craft gin and beer all bets are off, it’s like a gold rush.”
But the future is bleak, according to Pal Gleed, director general of The Gin Guild.
She said gin makers operate on tiny margins and were starting to feel the hit from rising prices of energy and manufacturing costs. Ms Gleed said: “Gin is amongst the first things consumers cut back on when prices rise and disposable income is squeezed.”
Prices may soon start rising, according to Kathy Caton, of Brighton Gin.
She said: “The price of glass has doubled. It costs a lot in energy and we’ve talked about switching to overnight production to cut costs there.
“It’s a really difficult time at the moment. Everybody is watching their cash flow and being cautious.”
