Coffee prices skyrocketing for customers, roasters: ‘Everybody’s basically taking a hit’
Roasted coffee prices experiencing biggest spike since 2012
Coffee prices skyrocketing for customers and roasters: ‘Everybody’s basically taking a hit’
Roasted coffee prices haven't spiked this much since 2012. Wholesale roasters are already trying to manage those increasing costs.
REDMOND, Wash. – Your next cup of coffee is going to cost you.
"We’re not making any money on the drip coffees anymore because the cost of coffee has gone up so much," said Victor’s Celtic Café owner Andrea Parrish.
Roasted coffee prices haven't spiked this much since 2012. Parrish is already trying to manage those increasing costs.
Roasted coffee prices are seeing their biggest jolt in a decade. (FOX Business)
INFLATION SURGES GLOBALLY, PUTTING HOUSEHOLDS AND BUSINESSES IN A PINCH
"We’ve increased prices 6% over the last two weeks," Parrish said. "Everybody’s basically taking a hit."
Frank Curtiss and his wife come to Victor’s once a week. They’ve noticed their coffee is more expensive.
"If it keeps going at some kind of rate like this, eventually it would have to factor in for us," Curtiss said.
COFFEE CONSUMPTION LINKED TO LOWER RISK OF COVID-19 INFECTION
With costs going up, more people are making their own coffee to save money.
Many cafes are passing along some of the price increases to customers. (FOX Business)
"They’re buying a really nice machine and buying a really good roasted coffee and brewing at home," said Caffé Lusso Owner Philip Meech.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Customers aren’t the only ones feeling the heat. Coffee is getting more expensive for roasters.
"With where prices are going right now, our monthly average of cost might go up six to eight thousand dollars," Meech said.
The price increases are leading more Americans to brew their own coffee instead. (FOX Business)
CLICK HERE TO READ MORE ON FOX BUSINESS
Roasters are trying hard not to pass costs to their customers. Parrish told FOX Business that Victor’s is changing things up to bring in more revenue.
"Merchandising," Parrish said. "Uber Eats. Uber to go. The local art shows. Having live music. Attracting more customers in different ways."