as if there isn’t enough rain coming.
NEW YORK (CNNMoney) — More bad news for coffee drinkers. First it was Starbucks and grocery store brands. Now, even single-serve packets are getting more expensive.
Keurig Green Mountain said Thursday it plans to hike prices by 9% for the K-Cup packets used in its signature brewing system, as well as bulk coffee and other products beginning in November.
It’s the latest in a string of price hikes this year as coffee producers pass along higher costs. Coffee prices have soared 58% over the past 12 months, after a drought in Brazil dried up this year’s harvest of Arabica beans, the most popular bean in coffee production.
Starbucks said in June that prices would go up between 5 and 20 cents on average, depending on the order and where the purchase is made. J.M. Smucker also hiked prices by 9% for Folgers and Dunkin’ Donuts coffee that it makes for…
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