News

Business

That latte or cappuccino could get more expensive as coffee prices continue to rise

On HALO

2 weeks ago

Americans are paying more for their coffee as prices for the caffeinated commodity are near record levels due to global production headwinds and higher costs from imported coffee exposed to tariffs.The most recent edition of the consumer price index (CPI) released by the Bureau of Labor Statistics showed that coffee prices were up 20.9% from a year ago in August and rose 3.6% on a monthly basis. That's the highest annual price gain reported in the data series since a 21.2% reading in July 2011, and topped the 20.3% reading in July 2022 amid the COVID inflation surge.Prices for subgroups of cof...