The price of wine has been rising, some rocketing.
When I started I could find classed growth clarets in Augustus Barnet* for 2-3 times the cost of a basic claret. Now first growth are 100s of times more expensive.
I too thought the prices couldn’t keep rising, they they must stabilise or crash but that hasn’t happened and I don’t think they ever will. Wine drinking has become the standard and even non-drinkers see top wines as investments.
Populations across the Americas and Asia who didn’t previously are now consuming wine and although wine production has increased immensely there is a finite amount of the good – or famous – stuff and those prepared to pay will get it.
At the bottom, the UK wine tax which is a flat rate tax not related to cost has greatly increased the tax percentage of a bottle.
I am buying today wines that then were either not available (e.g. NZ and OZ) or I would not have even considered (e.g. Languedoc, Bourg, Blaye).
If you think you’ll be drinking the same wines in 40 years time – you won’t!
*a chain like Majestic