Champagne Market Still Flat

Our friends at Marketplace did an interesting and timely story this week about how the bubble in the Champagne market has collapsed this year — prices are down 50 percent to 90 percent.

Sales numbers for the important holiday season won't be out until February but it seems many Americans will be toasting the New Year with a cheaper champagne cousin: sparkling wine, especially the increasingly popular Prosecco.

One interesting tidbit: while there was a global champagne shortage as recently as 2007, so much of the tony bubbly went unsold this year that a large stock had to be sent back to France in recent months.

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