Wine Prices Dropping

The cost of wine is set to plummet to its lowest price in five years. The trend is partly due to an excess of California grapes — and also to the fact that millennials prefer hard liquor and ready-to-drink cocktails in a can. Rob McMillan, author of the annual State of the Wine Industry report, predicts American wine enthusiasts will enjoy the “best wine retail values in 20 years.” He says the cheaper prices may last up to three years. Here’s the complete story from WGN-TV.