Why the Price of Coffee is Going Up

Why the Price of Coffee is Going Up

Nespresso Club Members recently received an email about a coffee price increase. Starting November 10, the prices of Nespresso's Grand Cru coffees will increase "due to the rising price of green coffee beans."

It may not be the news you want to read in your inbox, but it's the harsh reality of the world's dwindling coffee supply due to bad weather in Brazil, the world's largest coffee grower. Coffee beans prices have nearly doubled in three years, and some experts say it may increase another 30 percent to up to $3 per pound of beans.

Starbucks has already hiked up their coffee prices this past summer, and prices of packaged coffees sold at grocery stores have increased, too. Even Keurig Green Mountain's K-Cup single-serve packets are now more expensive.

Check out the slideshow above to learn more about rising coffee prices.