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You swear the latte you’ve been buying for years suddenly costs way more than it used to.
Now, you’re deciding whether it’s worth swinging the $6 drink or if you should just get a black coffee instead – but even that seems more expensive than before.
And you would be right.
On average, coffee prices across the United States have increased by approximately 23 per cent from 2021 to 2024 – a palpable side effect of inflation. The average cost of a coffee at a major chain, from The Independent’s data, now costs $4.76.
Three years ago, the average cost was $3.97. That’s a jump of 0.79c for coffee-loving consumers.
But not all cities, or coffees, have been equally affected.
To understand more, The Independent reviewed menu coffee prices from some of the biggest chains in some of the country’s biggest cities. We studied the price of a latte, a cold brew and a regular black coffee at Starbucks, Dunkin’, Peet’s and Blue Bottle over the last three years in the downtown areas of New York, Boston, Chicago, San Francisco and Houston.
Since most coffee price datasets are based on the price of wholesale coffee beans, The Independent used past menus through archived websites or photos that patrons took and posted on Yelp, Google Reviews, TripAdvisor and more.
Cold Brew
Getting the adrenaline hit from a cold brew will now cost you $4.41 on average.
But what we uncovered is particularly unfortunate news for cold brew lovers on the east coast.
New Yorkers and Bostonians buying a cold brew from Blue Bottle will pay $2.25 more than they did three years ago. That’s a 52 per cent increase.
The fan-favorite coffee beverage in those two cities saw the most noticeable cost increase compared to black coffee or lattes in other cities. On average, the price of a cold brew increased by $1.24, with Dunkin’ and Blue Bottle seeing the most dramatic price rises.
Buying a cold brew from a Dunkin’ in Boston costs 53 per cent more than it did three years ago. In New York, it’s 44 per cent more. In Houston, a cold brew has also gone up by more than 50 per cent.
Some companies did not follow the cold brew price hike trend, however. Buying one from Peet’s in New York actually costs $0.50 less than it did three years ago.
But there is some good news for cold brew lovers — the jumps in coffee prices over the last year seem to mostly affect lattes and black coffees
Latte
The classic frothy milk and (that me) espresso combination now costs $5.50 on average.
That’s a 23 per cent increase compared to 2021, but the average prices have fluctuated heavily over the last three years.
In a lovely surprise for consumers, most lattes went down in price by $0.14 in 2022 – a 3 per cent decrease. The following year, they went back up by $0.46. So far, between 2024 and 2023, lattes have gone up more than $0.60, nearly 15 per cent.
But determining how much a latte costs on average is heavily dependent on the type of milk used. Milk alternatives like almond, soy, coconut or oat can jack up the price of a latte.
Across the board, Dunkin’ increased its latte price more dramatically than any other coffee company The Independent surveyed.
In New York and Boston, a latte from Dunkin’ will cost you more than 50 per cent more than it did three years ago. In Chicago, it’s 44 per cent more and in Houston, it’s 32 perc ent more.
Bostonians, famously lovers of Dunkin’, showed that loyalty costs money, with the chain consistently increasing its prices there more than the other surveyed cities. Lattes from the coffee giant went up more than $2, cold brews increased by $1.73 and even black coffees jumped $1.53.
Black Coffee
Black coffees had the most dramatic percentage increase over the last three years. Coffees that once cost $2 to $3 in every city now hover around $3.50 to $4.
Or to be precise, a cup now costs $3.71 on average.
The regular ol’ cup of joe went up $0.25 from 2021 – a staggering 26.4 per cent increase.
That difference was most notable between 2023 and 2022 when the average cup of black coffee increased 8.87 per cent, or $0.29.
The reason for that may be tied to extreme weather that hampered production in major coffee-producing countries like Brazil and Vietnam, according to Bloomberg.
It’s all about the geography
Of course, residents of cities with higher costs of living, like New York, Boston or San Francisco, likely felt the impact of rising prices since price increases were larger.
While no city was completely immune from inflation, Houston saw the least dramatic price increases.
Inflation in the United States peaked during the second half of 2022 and coffee prices reflected that. Between 2023 and 2022, prices went up an average of 6.23 per cent across the country. Boston was the most impacted by that increase, seeing coffee costs increase by $0.80.
Coffee companies price their drinks differently in every city. But across the board, Dunkin’ recorded the largest difference in prices between cities.
And for those hoping coffee prices will go down, don’t hold your breath.
Though the data is preliminary, current trends indicate coffee prices are showing no sign of slowing down. So far, there is an 8 per cent increase in prices across the board compared to last year with New York and Chicago feeling the impact the most.
