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Wine Prices Head Upward as Dollar Falls
Posted by perle0 on 2004-12-29 17:03:12
(2337 views) 
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[News] |
| As the dollar continues its downward slide against the Euro (with no end in sight as yet), prices of European wines are rising slowly but significantly. While some retailers are able to cushion the blow with wines purchased earlier at more favorable rates, they can't do so indefinitely. |
Some merchants are predicting an eventual rise of 20% to 40% for European wines, and it's already begun. As an example, one French Champagne (there is no other kind, really, by definition) has gone from $41.99 in 2002, to $49.99 in 2003, and is now selling at $73 a bottle. That'll pop your cork! An article in the LA Times (registration required) spells out the frightening details. If you love French, Italian, German, or Spanish wine, you might want to stock up now. |
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