Caffeine levels aren’t the only things spiking for coffee drinkers lately.
Prices for coffee have soared, fueled largely by volatile weather that’s reduced crop harvests among major growers like Brazil and Vietnam, according to analysts.
Ground roast coffee prices in the U.S. hit $8.41 per pound in July, a record high and a 33% increase from a year ago, according to Bureau of Labor Statistics data.
Global coffee prices are hovering near a 50-year high reached in February.
U.S. prices for all coffee varieties (including roasted and instant coffee) were up 14.5% year-on-year in July — the second-highest annual inflation rate for any CPI category behind eggs, according to the consumer price index.
