Story highlights The new legislation sets a minimum price per unit

Research suggests that 392 lives could be saved within five years

(CNN) Alcohol in Scotland just became more expensive as the country today introduced a minimum price per unit of alcohol.

It is the first country in the world to implement such a law, with the Scottish government believing its introduction will save lives.

The new legislation sets a 50 pence (approximately 70 cents) minimum price per unit of alcohol. Anyone licensed to serve alcohol in the country -- in shops as well as bars and restaurants -- will need to follow the new pricing laws.

One unit is 8 grams of alcohol, which in terms of drinks is equal to a 25-milliliter shot of 40% alcohol, such as whiskey, or 76 milliliters of wine at 13%. A standard 175 millileter glass of 14% wine in the UK is 2.4 units. In the United States, a standard drink is 14 grams of alcohol, equal to 148 millilters of table wine.

The Scottish government said the previously low prices of alcohol were "unacceptable," as people in Scotland could exceed alcohol limit guidelines of 14 units per week for just £2.50 ($3.50) with certain cheap yet strong alcoholic drinks. The same purchase would now cost at least £7.50 ($10.20).

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