Coffee Prices Record Highest Annual Increase Since 1997

US retail coffee prices increased by 21% year-over-year in August, the largest rise since 1997, driven by Trump administration tariffs on major coffee exporters. J.M. Smucker is planning a third price hike for its brands, while Starbucks anticipates peak cost impacts by 2026, as the effects of these tariffs reach consumers.

Want More Context? 🔎