JEFFERSON CITY, Mo. (KCTV) – Fall drinks are coming out at coffee shops across the United States, but prices are not falling. In fact, coffee prices may be reaching new highs.
Coffee prices jumped 21% last month after tariffs went into effect, the largest jump since 1997, according to the Consumer Price Index. Just like the drip of espresso, the cost of raw coffee trickles down to your drink. The largest coffee producer in the world is Brazil, but that’s also the country facing some of the highest tariffs from the United States at 50%.
Other factors are also at play in higher prices, like drought, scarcity and competition. But Camdenton, Missouri, coffee roasters Dax and Stephanie Beaman noticed an extreme jump thanks to tariffs, and have had to raise prices for customers as well.
“That’s what it costs us, and we have to pass it along; otherwise, we can’t be here,” Dax Beaman said.
Fall drinks are coming out at coffee shops across the United States, but prices are not falling. In fact, coffee prices may be reaching new highs.(KCTV5/Hannah Falcon)
The Beamans have been roasting coffee for 20 years under their business, Firefly Valley Farms. In these tough economic times, they’re relying on loyal customers and the quality of their product.
“We don’t take shortcuts, because I drink it,” Dax Beaman said.
International Business Professor Mamoun Benmamoun with St. Louis University said companies, big and small, will eventually have to pass this cost down to customers. But with an ever-changing international environment, it’s hard to say how long these tariffs will last.
“They are not using these tariffs just as a long-term economic policy; it’s a negotiation tactic,” Benmamoun said.
In Washington, D.C., the fight over tariffs is taking a new turn as Democrats are planning to force two Senate votes on President Donald Trump’s tariffs in the coming weeks.
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