That next cup of coffee may cost you a bit more in the weeks to come with several factors adding to the price increase
“There’s like three major things going on right now. So there was a major frost in Brazil and Brazil is the number one coffee-producing country in the world," said Tom Richardson, owner of Central Coast Refreshments," that came along this year, so we’re going to see increases in coffee pricing across the board.”
But it’s not just extreme weather affecting coffee prices.
“We have these supply chain issues back in the ports. which is causing delays, so people being out of stock of things and increase the shipping costs. So we’re seeing cost creep up in being out of stock of things. And the third thing is constant inflation that is going on that I haven’t seen in 26 years of doing this," said Richardson.
Richardson says they typically see an increase in cost toward the end of the year, but this time around it's different.
“We are seeing a 10 percent increase mid-year and another one come along. So, we are seeing inflation really start to affect the bottom line for us," said Richardson.
While these factors will be affecting the coffee industry in the weeks to come, local coffee shop owners like Tom Walsh, are doing their best to put their customers first.
“Just having that understanding and knowing that we are trying to hold cost stable and we are doing everything we can to make sure our quality is up there so bear with us," said Walsh.
There is hope because this is not the first time the coffee industry has battled with high prices.
“This feels a little stressful for all of us, but back to our 2008 period, it is a season and we will get through it," said Richardson.
According to the U.S. Bureau of Labor of Statistics, coffee prices are up 4.7 percent over the last 12 months which was found in the October consumer inflation report.
