That Cup O’ Joe Is Gonna Cost You
NEW YORK (1010 WINS) — The cost of coffee is on the rise due to crop issues in Central and South America so New Yorkers may have to ask themselves how much they’re willing to spend on their morning pick-me-up.
A tiny storefront on Astoria Boulevard, called Coffee Shop, sells a cup of joe for a buck-a-cup but what if prices went up sky-high?
LISTEN: 1010 WINS’ John Montone reports
“I don’t really like that,” customer Julio told 1010 WINS’ John Montone. So, he says if the cost goes up he’ll just quit drinking coffee.
However, others can’t go without their morning fix.
“I’d pay three dollars a cup, I don’t care,” customer Colleen said. “I have to, it gets me through my day.”
Wholesale coffee prices are at a 13-year high after bad weather in Central America squeezed supply, MoneyWatch’s Alexis Christoforous said. In just the past two months, retail prices for Folgers, Dunkin’ Donuts and Millstone Coffee Brands have jumped 13 percent.
There seems to be a cultural divide as you head across the East River and to the Upper West Side where coffee drinkers are used to paying more than a dollar for the beverage.
“I pay about four dollars,” one man said.
If prices go any higher some New Yorkers may end up quitting the habit. “If it’s going to be a ridiculous price I’m not going to buy it,” one woman said.
So get ready to make a choice, supermarkets may raise coffe prices by as much as 10 percent by this fall.