Record-high coffee prices poised to keep rising on upcoming Brazil tariffs

Anyone who relies on a morning cup of coffee will have noticed how much their caffeine kick has been setting them back of late.

Coffee prices have recently surged to an all-time high, hitting $7.93 per pound of ground roast coffee in May — up from $5.99 in the same period last year, according to Bureau of Labor Statistics data first reported by The New York Times.

Tariffs, announced on Wednesday, could see the world’s largest coffee grower halt new shipments to the world’s largest coffee drinker altogether if enacted. Per Reuters, the US imported more than 8.1 million 60-kilogram bags — one-third of its total consumption — of the product from Brazil last year.

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