The Kobeissi Letter@KobeissiLetter
US coffee prices are surging at a record pace:
The average price of ground roast coffee is up to a record $9.46 per pound.
In February, coffee prices jumped +30.5% YoY, and have surged +127% since January 2020.
Over the same period, ground beef prices have risen +73% to $6.74 per pound, near an all-time high.
Furthermore, steak prices have soared +66% to a record $12.74 per pound.
Overall, the "food at home" category price level is up +31% while "food away from home" is up +36% since January 2020.
Food inflation remains a major issue.