Why Your Cup Of Coffee Could Cost You Even More In New Jersey
For many of us, that morning caffeine boost is essential to kickstart the day.
It certainly is for me, that's for sure!
Stopping at my favorite coffee shop on my way to work has become a daily ritual, and in New Jersey, we're lucky to have such a great selection of coffee shops to choose from.
We'll get to the list of the best coffee spots to visit here in the Garden State in just a minute, but first, this is not what you want to hear when you're thinking about all the money you already spend on coffee each week.
The cost of arabica coffee beans is already up 70%, which is the highest price since the 70s at $3.50 a pound, according to NBC News.
Adjusted for inflation, $3.50 would be about $0.66 in 1977. Prices increased back then because a frost killed more than a billion coffee bean trees.
And now there are reports that your cup of coffee could get even more expensive.
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NBC News reports that a lack of rain is to blame.
Jackie Newman, Vice President of World of Coffee Inc. says,
Climate change is the No. 1 factor on the increase and change in prices in the coffee market. It puts a lot of stress on the market. The supply is down and the demand is up.
So how much of an increase are we looking at?
50 cents to $1 per pound is what they're saying and that increase could be in the next couple of weeks.
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