The price of your morning buzz is about to get even higher.
Hit with wildly increasing costs for beans from growers, coffee roasters are charging more to supermarkets and other retailers — and those folks are passing the higher prices on to consumers.
J.M. Smucker Co., which distributes the Folgers and Dunkin’ Donuts coffee sold at stores, said last week it was hiking prices for a pound by 11% — the company’s fourth and biggest increase in a year. A few days later, Starbucks — which had already raised prices on some coffee drinks in the fall — said it would raise prices for bags of coffee beans sold at its cafes by 17%.