The Welsh Government says 34,000 hospital admissions caused by alcohol misuse every year cost the Welsh NHS £109m annually.
Deputy Minister Health Minister Vaughan Gething says figures show more then 4 out of 10 adults in Wales report drinking more than the recommended guideline amount of alcohol at least once in the last week.
Statistics released last month for alcohol-related deaths showed there were 467 deaths in Wales in 2013.
The Welsh Government says it will invest almost £50m in 2015-16 in initiatives to tackle the harms associated with both alcohol and drug misuse.
"Alcohol misuse is leading to a range of well-evidenced health and social harms, particularly for the significant minority of people who drink to excess and do not recognise the harm they are doing to themselves and others.
While there has been an overall downward decline in the number of alcohol-related deaths in Wales since 2008, that people die as a result of consuming too much alcohol is still a stark reminder of the challenges we still face in tackling the causes and impact of substance misuse."
A Welsh health board has issued a plea for people to drink responsibly after a surge in alcohol-related injuries on Halloween.
Abertawe Bro Morgannwg University Health Board said the A&E department of Morriston Hospital "was filled with witches, mummies, ghosts and other revellers in fancy dress".
It said patients were either sleeping off the effects of too much alcohol, or being treated for alcohol-related injuries - including from fighting.
Chief Executive Paul Roberts said he was "dismayed" to see some pubs and clubs offering cut-price drinks - some as cheap as 10p - on the night of October 31st.
He slammed the move as "irresponsible" and said people who drink alcohol to excess - and those who make it available - should consider the impact of their actions.
Parents in Wales are over-estimating the number of young people who drink alcohol.
According to new figures, from the Alcohol Education Trust, less than a quarter of 11 to 15 year olds think its okay to get drunk.
But parents here thought the figure was much higher.
Official figures show there's currently a downward trend in the number of young people trying and drinking alcohol
Wales has come a step closer to seeing the introduction of minimum prices for alcohol. An expert group has told the Welsh Government that the move would 'reduce harm.' But the industry remains to be convinced. Our Political Editor Adrian Masters reports.
The Welsh Conservatives are supporting moves to introduce minimum alcohol pricing in Wales. That's despite a controversial decision last year by David Cameron to drop a similar plan for England. The Prime Minister feared it would be 'unworkable' and open to legal challenge.
But the party's Shadow Health Minister in the Assembly, Darren Millar, says it can work in Wales.
Health Minister Mark Drakeford has welcomed today's expert report on minimum alcohol pricing which he says adds to the evidence that the move would help cut problem drinking.
And he says it won't have any impact on social drinkers.
Most people whose budgets are tight are sensible drinkers, the drink they buy will already be above the 50p minimum price per unit we propose. The evidence in today's report is that this will not have an impact on people who are living in pretty modest circumstances. It will help us to target people whose drinking has gone beyond that."
Most people whose budgets are tight are sensible drinkers, the drink they buy will already be above the 50p minimum price per unit we propose. The evidence in today's report is that this will not have an impact on people who are living in pretty modest circumstances. It will help us to target people whose drinking has gone beyond that.
The price of a drink could go up in Wales if the Welsh Government takes the advice of experts and put a minimum of 50p a unit on a drink.
Plans to introduce a minimum price for alcohol have been backed by a panel advising ministers on substance misuse.
Experts said the measure would protect vulnerable people, boost public health and improve community life. It could become law in 2015.
The health minister Mark Drakeford says today's report supports the view that a minimum unit pricing of alcohol will help prevent alcohol misuse in Wales.
The Welsh Government first introduced the proposals in a public health White Paper in April which also included a ban on e-cigarettes in public places.
"There is indisputable evidence that the price of alcohol matters. It is no coincidence that as the affordability of alcohol has improved substantially so has alcohol-related death and disease.
“A minimum unit price will make a strong contribution to preventing alcohol overuse and misuse and reducing alcohol-associated illnesses. The panel’s report supports this view. “We will now develop our proposals further with a view to introducing the Public Health Bill in early 2015.”
The Welsh Government should introduce the minimum unit pricing of alcohol, an independent health panel has recommended.
The Welsh Government’s Advisory Panel on Substance Misuse (APoSM)says it would help to address alcohol-related harm among people most affected by hazardous and harmful levels of drinking.
Wales has a higher rate of alcohol-related deaths than England. There were 504 alcohol-related deaths in 2012.
In the last 10 years, alcohol misuse accounted for more than 5,000 deaths in England and Wales.
“Alcohol health and social harm problems are preventable. Expert evidence and research confirms cheaper drinks are favoured by those who drink hazardously or harmfully, and a minimum unit price would have a disproportionate targeting effect on problematic drinking, reducing alcohol problems and achieving health and other benefits for individuals and our communities as a whole."
Last year, the UK Government made a controversial u-turnon the issue due to a 'lack of convincing evidence' that it would have an impact on alcohol consumption.
Wales' Health Minister Mark Drakeford will introduce a White Paper later, setting out a number of new law proposals to tackle some of Wales' major public health challenges.
His proposals include a minimum price for alcohol of 50p per unit, and a restriction on the use of e-cigarettes in public places.
Alcohol and tobacco contribute to many life-threatening illnesses and are major causes of persistent inequalities in health.
There is indisputable evidence that the price of alcohol matters. It's no coincidence that as the affordability of alcohol has increased substantially, so has alcohol-related disease. A minimum unit price will make a strong contribution to preventing alcohol overuse and misuse and reducing alcohol-related illnesses.
I have concerns about the impact of e-cigarettes on the enforcement of Wales' smoking ban. That's why we are proposing restricting their use in enclosed public places.
I am also concerned that their use in enclosed places could normalise smoking behaviour. E-cigarettes contain nicotine, which is highly addictive, and I want to minimise the risk of a new generation becoming addicted to this drug.