The price of a cappuccino could soar to around £3.57 in another blow to cafes and coffee lovers
The cost of a high street brew is expected to top £3, in what could be the latte straw for Covid-weary coffee lovers.
Experts say a mix of crop failures, supply chain issues and higher transportation costs have sent the global cost of coffee beans skyrocketing.
And that means the price of a cappuccino – the most popular order in the UK – will drop from £2.75 to around £3.57.
The increase will create even more problems for cafes affected by working from home. City stockbroker XTB says rises of up to 30% are “inevitable” after the price of beans hit a 10-year high of $2.48 a pound last month.
Before Covid, our coffee chain market was worth around £4.5bn a year with over 21,000 stores.
But the lockdowns have led chains like Costa and Pret a Manger to cut dozens of branches.
Joshua Raymond of XTB said, “We expect prices to continue to rise due to many factors, including extreme weather conditions.
“Brazil, which produces a third of the world’s coffee, saw its production drop by 20% last year due to drought.