Keurig Green Mountain is raising prices by 9 percent, the company announced Thursday, citing increasingly expensive coffee bean prices as well as energy, packaging and transportation costs.
the changes will cover traditional bagged, fractional packs, bulk coffee products and the portion packs for the Keurig brewing system. The price increases will go into effect on Nov. 3.
The company said that its green coffee prices have jumped about 55 percent in the past year.
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"We have been closely monitoring increasing costs, including the cost of green coffee," John Whoriskey, Keurig's president of U.S. sales and marketing, said in a statement. "Many of our competitors already have implemented price increases in light of the reality of sustained input cost increases."
—By CNBC staff