Coffee Prices Hit 34-Year High [Headlines]
A drop in the supply of high-grade Arabica coffee beans and increasing demand worldwide have driven prices higher.
Coffee prices are creeping up – a pound is now at $3.00. CBS reports:
At Metropolis in Chicago’s Edgewater neighborhood, the price of a pound of coffee is up by 45 cents. And they’ve raised the cost of a cup by 10 cents across the board.
… Analysts say there’s a drop in the supply of high-grade Arabica coffee beans.
Plus, there’s more demand. More people in countries like Brazil are drinking the good stuff.
It means the prices in coffee shops here have nowhere to go but up. Local customers say the price isn’t as sweet as it used to be, but they’ll pay it.