Coffee prices have soared following a severe drought in Brazil, the world’s largest grower of arabica beans. This has led to concerns about next year’s crop and rising prices for both arabica and robusta beans. U.S. roasters and coffee shop owners are considering raising prices to offset the increased cost of raw beans. Major supermarket brands have already raised prices with little impact on sales.
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GDP surged in the second quarter after sliding earlier this year
Investors Await Key Economic DataThe U.S. economy experienced a significant rebound, with GDP growing at an annual rate of 3% in the second quarter, surpassing forecasts of 2%. This surge follows a contraction in the first quarter, influenced by shifts in imports related to President Trump's trade policies. Want More Context? 🔎
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