Wine prices climb as demand surpasses supplies

Restaurant wine purchases soar

By Tara Evans - Executive Producer
Headline Goes Here Vangelis Thomaidis/SXC

If you like to grab a glass of wine while you're out on the town, or sitting down for a restaurant meal, you could soon be digging deeper into your pockets.

According to Restaurant Sciences, the price of vino by the glass has risen steadily over the last six months.

Experts said it's all because of what some are calling a shortage of wine inventories coupled with high consumer demand for the alcohol.

You'll see the highest increases in the family dining sector, where the average meal costs $38.50, according to Restaurant Services. There, it's an 8.4% jump.

At more formal dining establishments, wine costs have jumped 5.4%, where checks can reach upwards of $1,000.

At casual and upscale casual restaurants where bill totals range from $38.50 to $122.50, wine prices haven't risen too much, less than 2 percent.

Even wines like Sauvignon Blanc and Pinot Noir which used to be considered to be lower priced options are now pricier as well.

Read more here.

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