This morning’s CPI report for the month of February from the BLS was altogether unexciting, with core CPI rising 0.2% MoM as expected. While the report was pretty boring generally speaking, it contained some excellent news for whiskey drinkers.
As shown below, from 2002 to 2015 the price of whiskey rose ever higher relative to other spirits. Unfortunately for the curious, there are no separate series for other liquor cabinet staples like vodka, gin, or rum. Instead, we have to see their aggregate price under the “other distilled spirits” category. But recently, increased supply from new US distillers has driven much stronger competition. The result? Whiskey has cheapened up relative to other spirits. With long lead times for aging, fickle consumer tastes, and high relative prices to consider, US whiskey drinkers are likely to get further reprieves in the year ahead.