Wine prices are up, but the prices of some fine wines are getting a little more expensive.
The average price of a fine wine rose 9% from 2016 to 2017, according to Wine Spectator, which tracks the price of premium wines.
The average price for a medium-priced fine rose 7.3%.
The average for a $75 bottle rose 17.4%.
A wine expert with the National Association of Wine Merchants said the price hike is due in part to a rise in demand from consumers who are looking to drink expensive wines.
“They are really finding their way to places like upscale bars and restaurants where they’re really trying to get a little bit more money out of it,” said Dan Miller, president of the wine industry trade group.
He said the increase in prices reflects a trend that’s been building for decades.
“The trend that we’ve seen in the last couple of years is that people are starting to get more interested in wine,” Miller said.
Wine experts are concerned that a rising wine price is hurting the industry, but it’s not the only factor driving the prices up.
“I think a lot of it is the aging of the industry and the fact that people don’t have a lot to spend on wine,” said Miller.