Takeaway coffee prices rising at fastest pace in more than 10 years

An informal nationwide survey reveals that the average price for a regular double-shot flat white is at least $5.50, but you can still find one for $2 if you know where to look.

Stats NZ revealed that the price of a takeaway coffee increased by 5.3% in the year leading up to July, prompting reporters from Stuff to visit their local cafes to compare prices.

That was the fastest rate of growth since 2009, excluding the 15% increase in the GST.

In July of the previous year, the annual rate of growth was 2.7%. In July, Stats NZ recorded that the average weighted price for a takeaway coffee was $4.35.

Foundation Cafe, also in Christchurch, and Red Cafe, in Nelson, charged $4.80 for a medium flat white. This was more than twice the price of the cheapest coffee.

The most expensive coffee ordered by our reporters in Palmerston North was a $6 flat white from the Streetwise coffee cart.

Around the nation, the price of a different type of milk would increase by 50 cents to $1.

Gareth Kiernan, chief forecaster at Infometrics, stated that rising milk prices would have an impact on cafe prices. In July, the retail price of two litres of milk increased by 5% year-over-year, after increasing by more than 10% in June.

He stated that wage growth would also play a role. The average hourly wage in the accommodation and food service industry has increased by 12 percent annually.

“This growth reflects the lack of workers in the industry as a result of closed borders, resulting in the loss of backpackers and people on working holidays,” he explained.

Read more • stuff.co.nz

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