The price of wine grew 21.3% in April, compared to March, after two months of increases under the Consumer’s price index (CPI) of the National Institute of Statistics and Censuses (indec)according to the research center Vinodata.
according to Argentine Wine Market Price Report of Vinodatahis Wine Price Index (IPV) registered in April a variation of 21.3% In the comparison with the previous month, after two months with increases below the CPI.
This suggests a possible seasonal pattern in re-pricing strategies in the sector (or an acceleration in the rate or magnitude of re-marking): in April More than 80% of the surveyed bottles registered increases, against 51% in February and 28% in MarchThey explained from the research center.
Between October 2022 (month in which the HPI series begins) and March 2023, a certain heterogeneity in the evolution of IPV according to price range, indicates the report.
What types of wines registered increases?
In the period, the bottles under $700 (prices to April) recorded a 53% increase, while in all the remaining ranges the increases were greater than 60%.
This pattern underwent a partial reversal in April, when all the price ranges of wines under $3,500 showed increases greater than 20%while labels over $5,000 had average increases of 13%.
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Buenos Aires City
Regarding types of grapes, the highest price increases occurred in the orange wines (77%) and pink (64%), while the sweet wines were the ones that increased the least (44%).
By province of origin the largest increases were observed in wines from Neuquen (68%), Black river (63%) and San Juan (62%); Meanwhile, the wines of jump registered the smallest increases (55%), always in the period October 2022-April 20233.
The ranking of prices by province of origin is headed by the “emerging” group (the median price stands at $5,400), followed by Black river (almost $4500); while the wines of San Juan ($1,450) and The Rioja ($1,964) are the ones with the lowest relative price.
Source: Ambito
