High inflation levels and rising interest rates in many markets around the world have engendered pessimism as to the retail sales outlook. Food inflation has generally been lagging overall inflation’s levelling-off trajectory, encouraging consumers to cut back on supermarket spending. In this context, global bulk wine activity has proceeded cautiously through the final quarter of 2022 while sales are carefully analysed; no one wants to find themselves overstocked, or having paid too high a price. Report by wine broker Christian Jungbluth from Ciatti.
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