Reported 5 days ago
Coffee prices have surged over 30% this year, hitting consumer wallets as consumers now pay 2.5% more for roasted coffee and 7.1% more for instant coffee compared to last year. Climate issues in major coffee-producing countries like Brazil and Vietnam have significantly affected harvests, leading to these price increases. Companies like illycaffè and Keurig Dr Pepper anticipate further price hikes in 2025, although some retailers have managed to mitigate direct impacts through pre-purchases. The inflation in coffee prices is tied to lower production and rising logistical costs, particularly for instant coffee.
Source: YAHOO