(NewsNation) — Coffee drinkers are seeing their usual pick-me-up come at a heftier cost.
Last month, coffee prices for U.S. retailers hiked nearly 21% compared to the same month the year prior. The price rise was the biggest jump in 28 years, according to the Consumer Price Index.
Coffee companies are not surprised by the spike, as they have been struggling with the issues that arose with the global coffee supply from the droughts in Vietnam and Brazil. But President Trump’s tariffs have made importing very difficult.
Green coffee beans were hit with a blanket 10% tariff on their own.
Diane Swonk of KMPG believes coffee prices “will easily exceed the record as the full effects of the 50% tariffs levied on Brazil last month work their way onto store shelves.”
Big brands and small shops around the country have recently raised prices despite trying to absorb the costs.
“We have held off on making this change for as long as possible,” said New York City-based Corvo Coffee. “But in order to continue providing you with the same level of quality and reliability, this adjustment is necessary.”
Starbucks remains the lone holdout for raising its prices, citing buying practices.