A little vino would be keen-o

I've long had a taste for fine wines. My wine-buying budget, however, was stuffed with a mighty big cork last year. Thus, I identify with this very well:

As recession grips the country, drinkers are discovering fine wines on a beer budget. The wine industry is less vulnerable to the downturn than other sectors, but total U.S. wine sales rose less than 1% by volume last year, the slowest rate this decade, according to Jon Fredrikson, an industry consultant with Gomberg, Fredrikson & Associates in Woodside, Calif. The downturn is most acute in restaurants, where total wine sales fell 10% to 12% last year as Americans dined out less, Mr. Fredrikson says. "Consumers have reined in their spending and are looking for value," he says.

priced wines are drawing healthy sales. According to market-research firm Information Resources Inc., which tracks wine sales in food, drug and mass-merchandise outlets, sales of wines in the $11-to-$20 range increased 8% in dollar terms in the 52 weeks through Jan. 25. By contrast, sales of wines costing more than $20 rose a mere 1.6%, compared with 11% and 26% in the two previous periods, respectively.