As VMW has been reporting, coffee prices are going up. A video at WSJ.com explains why prices are heating up and that bigger price hikes are expected over to come
Today the average coffee drink at a coffee shop costs the consumer about $4.50, compared with $3.90 five years, the Wall Street Journal reported. That’s a 17% increase over a five-year period, out pacing the overall inflation rate of 10% during the same period.
The WSJ said the price of coffee could still go higher. Crop failures, bad weather and supply chain disruptions at ports and shipping container shortages are among the contributing factors impacting prices.
In the retail sector, staff shortages will drive up labor costs which in turn will be passed onto customers through higher prices.
And the biggest coffee price increase hasn’t yet arrived; it may come in early 2022.
