The data comes from a survey that includes monitoring the prices of around 5,000 bottles that meet certain criteria.
With an average rise of 21.3%the wines they went up very high above inflation of April of the 8.4%according to him “Report on Argentine Wine Market Prices” (IPV)made by the Vinodata research center.
He survey includes monitoring the prices of about 5,000 bottles that meet certain minimum criteria of continuity in marketing, different sales channels, price range, province of origin and variety.
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Wines rose above inflation in April
The sharp correction in wine prices in April arrived after two months in which the settings were Lower than those of Consumer Price Index (CPI). In March they had increased only 1.7% and in February, 5.1%. However, between October 2022 and April 2023, the IPV accumulated a variation of 59.2%while in that period the inflation was from 46%.
“This suggests a possible seasonal pattern in repricing strategies in the sector (either an acceleration in the rate and/or magnitude of the remarks)”, indicated from Vinodata. In addition to the jump in prices, another fact that accounts for the impact of inflation is that more than 80% of the bottles surveyed to calculate the IPV recorded increasesagainst 51% in February and 28% in March.
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Buenos Aires City
What were the wines most affected by this price increase?
The report also shows that, while until March 2023 the cumulative increase in IPV was greater in the ranges of higher pricesthe trend is reversed starting in April. In fact, during said month, the IPV corresponding to all the price ranges of less than $3,500 went up more than 20%while the labels of more than $5,000 had average increases of 13%.
In terms of grape variety, the orange wines (77%) and rosés (64%) were the ones that increased the mostwhile the sweet wines were those who rose the least (44%) during this period.
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Food & Wine in Spanish
At province level Some heterogeneity was also observed: those who suffered higher magnification accumulated prices between October 2022 and April 2023 were Neuquén (68%), Río Negro (63%) and Saint John (62%)while the Salta wines were the ones who registered the lowest increments (55%).
Source: Ambito
