Making coffee at home isn't a solution. J.M. Smucker, the company behind both Folgers and the Dunkin' Donuts-branded coffee found in stores, raised its prices by an average of 9 percent this week. It was the first time it hiked its prices in three years.
Overall, coffee prices at the grocery store have risen for two consecutive months, according to the May consumer price index from the Bureau of Labor Statistics. But consumer prices for fresh sweet rolls, coffee cakes and doughnuts remain behind inflation and rising wages, and milk has gone up 5.6 percent during the year, according to the index.
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A price-conscious customer, Sentell McDonald from Harlem, N.Y., often gets doughnuts and coffee for breakfast across the city, but maintains an allotted budget. He said that a price hike would definitely make a difference in his routine.
"I don't spend too much, and I try to go to places that allow you a free coffee for every eight purchases, or something like that," McDonald said. "I probably would still buy it; I probably wouldn't buy it as much as I do, but I'd still get it. It's like gas, you have to have it. I probably would make more coffee at home though."