Coffee prices soar to highest level in 10 years

Increase caused by supply chain issues, bad weather in Brazil

AP Photo/Julio Cortez (Julio Cortez, Copyright 2021 The Associated Press. All rights reserved.)

ORLANDO, Fla. – Coffee prices are on the rise once again as prices hit a new 10-year record on Wednesday.

Economists say prices for coffee have more than doubled in the past year, due to supply chain issues and dry weather in Brazil.

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As a result of the rising costs, some companies have been forced to hike prices on canned coffee by as much as 5%.

Last week, Starbucks announced it would be raising prices for the third time in just a matter of months.

About the Author:

Cathleigh is a newscast producer and has been with News 6 since 2014. She graduated from the University of North Florida with a degree in communications, with a focus in broadcast journalism. Cathleigh produces the 5:30 a.m. and 6:30 a.m. newscasts.