Global coffee prices are lower than ever, so why is your latte still pricey?

By Andrew Sweeney
Medill Reports

Whether it is just black, mixed with milk and chocolate or thrown together with ice and caramel, coffee in all its forms is a deep-rooted feature of American life.

The average price of a cup of joe in the U.S. has gone up by a dollar over the last 10 years, even as coffee production has increased and the wholesale price is at its lowest point ever.

So why are consumers paying more?

Photo at top: Overproduction in countries like Brazil and Vietnam has flooded the market with coffee beans and forced prices down. (Andrew Sweeney/MEDILL)