CAFFEINE lovers are steaming at Costa Coffee for putting up its drinks prices for the second time in six months – with some rising by a whopping 12 per cent.
Fans of the chain found a 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.
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The increase varies depending on the drink and size, but the average is 14p, Costa said. Prices vary by branch.
Coffee machines in branches have gone up by 20p, others reported.
One angry customer tweeted: “My salary hasn’t increased 10 per cent so you can’t justify the increase. This is my last day in one of your shops.”
And another called Ryan said: “Are you trying to put yourselves out of business?? “Absolutely ridiculous prices when you make so much profit on one drink alone.”
Sarah Coles, of investment firm Hargreaves Lansdown, said: “It’s these kinds of price rises that can catch us out, if we tend to buy our usual coffee on auto-pilot without really checking the cost.
“Part of the problem is the soaring price of coffee itself, as a horrible combination of bad harvests, supply chain issues and shipping costs have pushed prices sky high.
“However, the cost of the actual coffee has always been a small fraction of the price we pay. “Costa will also be wrestling with hikes in prices of everything else they have to cover, from heating and lighting shops, to paying staff in a competitive environment.
In February we reported how Costa had put its prices up at the end of last year, following a triple whammy of poor harvests, supply chain problems and higher transport costs, which sent the global cost of coffee beans rocketing.
A Costa Coffee spokesman said: “Like all retailers, Costa Coffee is facing unprecedented inflationary pressures resulting in increased costs.
“We know this is a challenging time for our customers as well, which is why we are absorbing costs wherever we can.
“Despite this we’ve 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 deal, available every day.
“We also have additional exclusive offers for our Costa Club members, where customers can earn a free drink after buying eight drinks, or just four drinks when using a reusable cup.
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“Currently they also have the chance to win millions of prizes through a special scan to win Coffee Shot competition.”
We’ve previously written about how Nando’s secretly hiked prices, as well as Morrisons cafe.
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