Home Coffee prices Italians furious as espresso price hits record highs

Italians furious as espresso price hits record highs

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  • Italians are fuming over the rise in the price of an espresso coffee.
  • It usually costs €1 ($1.13) in Italy; experts say it could reach €1.50 ($1.70) this year.
  • World coffee prices have soared due to supply chain issues and poor harvests.

The price of an espresso is skyrocketing in Italy, leaving locals with a bitter taste in their mouths.

According to a recent report by The Times of London, the cost of this popular morning drink has risen from €1 ($1.13) to €1.10 ($1.25) in many cafes this year and could cost up to to a record €1.50 ($1.70) by the end of the year if ingredient prices continue to rise.

“We receive many complaints denouncing the rise in coffee prices,” Furio Truzzi, head of the Italian consumer rights group Assoutenti, told The Times. Assoutenti said around 76% of Italy’s 160,000 cafes raised prices, including on breakfast snacks such as pastries.

It “transforms a daily ritual for 5.5 million Italians into a luxury only for the wealthy,” he told The Times.

These price increases are not unique to Italy. Global coffee prices soared in 2021 after poor weather conditions in coffee-producing countries led to poor harvests and persistent supply chain issues caused delays and blockages, contributing to drive up prices.

But experts say consumers are so addicted to drinking coffee that they are likely to resist price increases.

It is “such an important part of [consumers’] daily routines, it would take a lot to change their coffee habits,” Darren Seifer, food and beverage analyst at research firm NPD Group, told Bloomberg.

Starbucks, the largest coffee chain in the United States, addressed inflationary pressures during recent earnings calls and said it was not ruling out price hikes.

“Pricing will be one of many levers we use to offset these headwinds,” Chief Financial Officer Rachel Ruggeri told analysts in July.