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17 January 2024

SWA comments on latest ONS inflation figures

SWA comments on latest ONS inflation figures
Read the Scotch Whisky Association's response to the latest ONS inflation figures for December 2023.

Commenting in reaction to today ONS inflation figures, which show that inflation rose to 4% in December due to rising prices of alcohol and tobacco, SWA Director of Strategy and Communications Graeme Littlejohn said:

“We’re seeing the consequences of a record increase in alcohol duty last August. The ONS says alcohol prices have contributed to December’s increase in inflation and the Treasury has seen less tax revenue from spirits, including Scotch Whisky, since August. The tax hike was clearly the wrong decision, and the Chancellor was right to freeze excise duty in his autumn statement rather than introducing a second inflation-fuelling tax rise on Scotch Whisky in less than six months. Today’s figures show he must go further in the Budget and cut alcohol duty to boost business, support growth and drive down inflation.”