If you’re a coffee lover, brace yourself: your next cup of Joe might cost you a little more.
Recent tariffs on imported coffee are taking effect, and according to the Bureau of Labor Statistics, coffee prices rose over 14% on an annual basis in July.
Experts are warning that prices could rise even further with a new 50% tariff on coffee imports from Brazil, the world’s largest producer of coffee beans.
At Fort Thomas Coffee, owner Christine Smalley has been navigating this "brewing storm" of rising costs.
“They have gone up about 10%, and just a couple of weeks ago, our roaster increased prices by 5%,” Smalley said.
Despite these increases, she has held off on raising the price of coffee, instead adjusting prices on food and other items.
“We branched out; we needed additional revenue streams. So we try to balance it out to not harm the consumer,” she said.
Watch to see things you can do to lower your coffee costs:
Consumer Choices at Risk
Monica DeBolle from the Peterson Institute for International Economics warns that consumers may see reduced choices in coffee options due to these high prices.
“Some producers may find it difficult to sell coffee in the U.S. anymore,” DeBolle said. “Certain brands of coffee could disappear from shelves.”
While large coffee chains stocked up on beans before the tariffs were enacted, supermarket chains may see quicker price increases.
“If it’s on the shelf, it’s going to be way higher than it was a week ago,” DeBolle said.
Tips to Save on Coffee
If you brew coffee at home, here are some helpful tips to save money:
- Buy whole beans and grind them yourself, they stay fresher longer.
- Purchase coffee beans in bulk.
- Refrigerate leftover coffee: Enjoy it iced for a refreshing alternative.
- Stock up during sales: Take advantage of discounts when they’re available.
If you prefer visiting a local coffee shop, know that establishments like Fort Thomas Coffee are doing everything possible to keep prices affordable.
“If 50% is the new tariff, we're going to plan for that. But we are not panicked,” Smalley said.
So, don’t be quick to judge your local coffee makers if their prices increase in the coming weeks.
Understanding the reasons behind the adjustments can help you make informed choices, so you don't waste your money.
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