News about David Gates

According to David Gates, CEO of Direct Wines and parent company Laithwaites, a bottle of red or white from fans France, Italy, and Spain would only get more expensive if the heat and drought persists much longer. According to government statistics, prices for both wines and spirits have already increased by more than 60% in the last year, as the cost-of-living crisis and inflation continue to pull on Brits' purse strings. However, Mr Gates is concerned that a further rise of four percent by the end of the year is likely. Olive oil prices are also on the rise due to the heat's effect on harvests. The cost of the basic cooking ingredient, often referred to as 'liquid gold' by the countries exporting it, mainly Spain and Italy, could reach as much as 25 percent by the year's end.