Cheers to Waning Wine Prices:

After years in which lovers of Burgundy, Bordeaux and Champagne have had to put up with the cost of their favorite tipple rising inexorably, merchants anticipate that the 2012 vintage will see prices either stabilize or rise by only modest amounts.

Difficult weather conditions earlier in the year will reduce the quantities available from some top producers, which would normally point to consumers being asked to pay more.

But the impact of reduced supply is being offset by the uncertain global economic backdrop and there has been little advance buying by speculators gambling on prices rising strongly between this year's late harvest and the first 2012 bottles coming to market. –by AFP