Wine popularity, prices on the rise

Wine is very popular in the U.S. right now. CNN's Erin McLaughlin explains how this is impacting prices.

From to New Jersey to Apple Valley, Americans are growing, storing and drinking. I think people are feeling very comfortable with just having a glass or two or three, you know, any day in the week. And wine shops in venues across United States, business is better than ever. Wine is hot in the US, the United States is set to overtake France to become the world's number one market for wine. James Robinson, wine reporter for financial times says it’s the part of global shift. In the big old European wine producing countries France, Italy, Spain, consumption has been plummeting. But to counter-balance that in the United States and in China, wine is seen as very desirable, very hip. There’ve been reports pointing to a global shuffle. Robinson believes they exaggerated but she does predict higher prices for consumers. You are an average consumer and you are looking at all these headlines. What should you be thinking, what should your take-away. Your take-away should be I have been very lucky for the last ten years to be able to buy wine reasonably inexpensively. And maybe I will have to pay a little bit more in the future. I don't think it’s because there is a massive global shortage. I think just growth have been rewarded properly recently. And that means price hikes. After all at the end of the day, it’s all about that little reward.