Coffee is the most recent food product to experience supply chain issues and inflation. This is bad news for individuals who rely on caffeine in the morning.
The U.S. Bureau of Labor Statistics reports that the price of coffee increased 34% over the past year. This roughly equates to an additional cost of $1.55 per pound. This is partially due to a drought in Brazil, one of the world’s largest coffee producers.
According to Julie Ramhold, a consumer analyst with Dealnews.com, “this meant that the overall harvest was smaller, which meant there was less to export to countries like the United States.” “Of course, that means there is not enough coffee to satisfy the extremely high demand here. Therefore, prices will inevitably rise.”
You will pay more whether you purchase it from a grocery store or a coffee shop.
How do you save? Create it oneself. Investing in some equipment may be worthwhile if you enjoy coffee house beverages but dislike their price.
Ramhold stated, “It doesn’t mean you have to go completely overboard or anything.” You can purchase a milk-frothing wand for less than $20 and an actual espresso machine for $100 or less, if available.
For a simple cup of coffee at home, save money by purchasing whole beans in bulk and grinding them yourself. A grinder costs approximately $20.
“Extend your coffee habit at home without spending a fortune,” Ramhold advised.
Your only alternative is to give up caffeine, so you do not purchase any coffee.