Drink prices to stay unchanged this year

The price of drink will not rise until after the end of 2002, following a voluntary price freeze imposed by vintners groups.

Minister for Consumer Affairs, Tom Kitt confirmed he has received assurances on the issue from both the Vintners Federation of Ireland and the Licensed Vintners Association.

Minister Kitt said, “I welcome very much the fact that industry has voluntarily agreed not to increase prices in the short to medium term. I would urge consumers to be vigilant and observant, and the develop the habit of familiarising themselves with what the competition is offering.”

He said he hopes customers will use the breathing space to size up the competition, and in some cases encourage price reductions.

He said the ultimate sanction for any organisation that takes consumers for granted is the loss of business.

The Licensed Vintners Association says there is no reason why drink prices should increase by the end of the year.

Spokesman Frank Fell said, “We don’t see anything that should move alcohol prices out of line with the Consumer Price Index, and if you look at the CPI, drink prices are very much in line with it anyway.”