Wine, liquor prices set to increase at Pennsylvania stores
PHILADELPHIA (CBS) -- The Pennsylvania Liquor Control Board is raising prices on more than 3,500 of its most popular wines and spirits.
They say inflation is to blame.
The 4% increase goes into effect at Fine Wine and Good Spirits stores starting January 15th.
According to financial documents from the PLCB, liquor sales dipped in 2020 due to the COVID-19 pandemic and shutdowns at bars and restaurants. Sales rebounded the following year when wholesale picked back up as more bars and restaurants were open.
There was a record $3.017 billion in sales in the 2021-22 fiscal year, the first time sales topped $3 billion.
In the 2022 fiscal year, the agency reported a record net income of $330.9 million after decreasing operating costs and long-term liabilities.
"We are doing everything we can to try and survive and it seems like the government is doing everything they can to put us out of business," Race Horse Tavern owner James Delisio, Jr. said.
Delisio says he's been trying to avoid raising prices for his customers.
The agency contributed $839.7 million to governments and other agencies last fiscal year.
PLCB operates 600 Fine Wine and Good Spirits stores across Pennsylvania and handles liquor licenses. Taxes and store profits from the agency go into the state's General Fund.
Some worry that customers might consider traveling to New Jersey or Delaware to look for cheaper prices.