In 2004, coffee lovers could enjoy a cup for under $3, with the national average cost being $2.15. Fast forward to 2024, the price has spiked to an average of $3.08, according to a report by Toast, a restaurant point of sale and management system. The cost varies significantly across the U.S., with the West Coast seeing prices closer to $4 and Hawaii nearly $5. Meanwhile, Nebraska retains the lowest average price at $2.12. Specialty coffees like cold brews and lattes have seen even steeper hikes. In Hawaii, a cold brew averages $6.29, while a latte goes for $6.69. The high costs in Hawaii and Alaska are attributed to their remoteness, making transport and logistics more expensive. Despite a 2.5% drop in coffee prices year-over-year according to the Bureau of Labor Statistics, coffee shop prices remain high. Starbucks has introduced a value menu to attract budget-conscious consumers, but the prices are still significantly higher than they were two decades ago.
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