Your morning cup of coffee is about to get more expensive
By Sean Dowling, Buzz60
If a cup of Joe doesn't wake you up in the morning, news that the price of coffee is about to get more expensive might grab your attention.
The J.M. Smucker company, which owns the Folgers and Cafe Bustelo brands, and also sells Dunkin' Donuts branded coffee in supermarkets, says they're raising prices by an average of 6%.
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The company says this is because of "sustained increases in green coffee costs." Translation: the price of raw coffee keeps going up.
To be clear, the hike does not affect the price of prepared coffee drinks you buy at Dunkin Donuts, but exclusively the packaged products under that name at grocery stores and supermarkets.
Smucker's says the prices of K-Cup pods for its various brands will not be going up either.
Back in 2014, the company raised prices by nearly 10% because of higher commodity costs, but quickly realized they were priced too aggressively and wound up slashing prices in 2015 as a result.
Officials said people suffered "sticker shock" and promised for the next hike "not to rip the Band-Aid off as quickly."
Some people are about to find out how much they really need that cup in the morning.