Coffee prices on the rise due to inflation

Many people across the country are feeling the pinch of inflation.

Cutting back on coffee is one of the ways to cut back on spending.

At coffee shops from January through May 2022, the average price of regular coffee was $4.03, up 9% from the same time last year.

For specialty coffee, prices were up 6% to $5.23 according to the NPD Group, which does market research.

Learn what Starbucks CEO Howard Schultz is saying about the rise in prices by watching the video.