CAFFEINE lovers are raving about Costa Coffee for raising the price of its drinks for the second time in six months – with some going up 12%.
Fans of the chain found flat white increased overnight from £2.95 to £3.30, medium skinny lattes from £3.10 to £3.35 and small cappuccinos from £3.15 to £3.50.
The increase varies by drink and size, but the average is 14p, Costa said. Prices vary by branch.
Coffee machines in branches were up 20p, others reported.
An angry customer tweeted: “My salary didn’t increase by 10% so you can’t justify the increase. It’s my last day in one of your stores.
And another called Ryan said, “Are you trying to file for bankruptcy?? “Absolutely ridiculous prices when you make that much profit on a single drink.”
Sarah Coles, of investment firm Hargreaves Lansdown, said: “It’s these kinds of price increases that can surprise us, if we tend to buy our usual coffee on autopilot without really checking the cost.
“Part of the problem is soaring coffee prices themselves, as a horrific combination of crop failures, supply chain issues and shipping costs have sent prices skyrocketing.
“However, the cost of the actual coffee has always been a small fraction of the price we pay. “Costa will also be struggling with price hikes for everything it needs to cover, from heating and lighting stores to paid staff in a competitive environment.
In February, we reported how Costa raised prices late last year, following a triple whammy of crop failures, supply chain issues and higher transport costs, which have caused the global cost of coffee beans to skyrocket.
A Costa Coffee spokesperson said: “Like all retailers, Costa Coffee is facing unprecedented inflationary pressures driving up costs.
“We know it’s also a difficult time for our customers, so we’re absorbing the costs wherever we can.
“Despite this, we had to make the difficult decision to increase the prices of our drinks.
“We are always thinking of new ways to offer great value across our range, including our £1 and £2 breakfast offer, available every day.
“We also have additional exclusive offers for our Costa Club members, where customers can earn a free drink after purchasing eight drinks, or just four drinks using a reusable cup.
“Currently, they also have the chance to win millions of prizes through a special scan to win the Coffee Shot contest.”
We’ve written before about how Nando’s prices have secretly gone up, as well as Morrisons coffee.
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