By Elizabetta Tekeste
Coffee prices are at a fifteen-year high, you don't have to be in the coffee industry to notice that your favorite vanilla latte costs more now than it did a year ago.
It's one more pill for consumers to swallow, but many consumers are beginning to choke. If you live in New York City, you're getting hit especially hard!
I made the move to America exactly 4 years ago seeking a better future. Since then, I've endured outrages rent rates and now ridiculous transportation tariffs. Am I doomed to pay exorbitant coffee prices too? When I arrived in March '07 an unlimited metro card was $76, today it's $104. To continue riding the MTA I have to find a way to offset the 30% increase in price.
Interestingly enough, escalating coffee prices are, in part, due to increasing demand for premium coffee by the growing middle class population of countries like Brazil, China and India. When there is growth in one part of the world, there needs to be a recession in another (there's an equal and opposite reaction happening at all times).
Now that coffee costs $1 more per pound on average than the beginning of the year, many of us will re-assess and re-prioritize in order to spend less than we make. It's a creative and challenging exercise that reinforces the two types of people in the world: buyers and sellers. I'm fortunate enough to be a seller in the coffee world, maybe if I bring the MTA station attendant a coffee each morning he/she will exchange that for a free ride to work?
Until next week, breathe well and be well!