RUMOURS of post-Brexit price hikes have sent Prosecco lovers into a spin in fear that they will no longer be able to afford their favourite bottle of fizz.
But now one supermarket has responded by creating its own cut-price sparkling wine blend, which it has dubbed “Progrigio” and claim s“tastes just like Prosecco”.
The wine, which will retail for just £5 and is a mix of Prosecco and the cheaper Pinot Grigio, will plug the gap for fans of the sparkling drink, which experts from the UK Wine and Spirit Trade Association have warned is set to rise by nine per cent or 59p a bottle.
The rises are, they claim, due to the weaker pound, combined with potential increases in duty on alcohol and higher inflation in the wake of Britain’s decision to leave the European Union.
Ed Betts, wine buying manager at Asda, which will sell the drink, said: “We always strive to keep prices as low as possible without compromising on quality and we believe Progrigio is the ideal affordable sparkling wine alternative.”
“We want to protect the demand for sparkling wine by offering customers more choice, and by moving slightly away from the Prosecco region we have discovered a great example of quality fizz at an everyday price.”
The UKWSTA said earlier this week that in addition to an expected hike in the cost of Prosecco - traditionally the cheaper choice for sparkling wine drinkers - the cost of Champagne is also expected to rise by five per cent, adding around £1 to the cost of a bottle.
Tasting notes accompanying the new beverage state: “Crisp, fresh and delicately floral, the fruity aromas of Progrigio are balanced by its dry profile that offers a hint of sweetness at the finish.
“Designed to be served in a flute glass, the versatility of Progrigio also means it’s suitable as the base to a sparkling cocktail.”
The sparkling wine sector in the UK is now worth over £604.4 million a year, thanks to the rising popularity of drinks such as Prosecco.
Drinks are not the only products which are likely to see price increases in the coming months.
Figures released in January by Kantar Worldpanel showed that after 28 months of deflation in the market, like-for-like grocery prices increased by 0.2 per centage points. Meanwhile, in October, supermarket giant Tesco reported a shortage of brands including Marmite from its shelves over a Brexit-related price row with supplier Unilever, after the company demanded price rises of 10 per cent, blaming the falling value of the pound.