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Why coffee prices are soaring

Feeding your caffeine addiction is getting pricey.
Starbucks

How much are you willing to pay for your daily cut of joe?

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If it seems like your favorite corner cafe --- or even big chain --- has started charging you more for a cup of coffee, you're right. Extreme droughts in Brazil, Vietnam, Colombia and other big coffee export countries have caused a coffee bean shortage, driving up costs.

Bloomberg Businessweek reports that Starbucks, Folgers and Kraft Foods (makers of the Keurig and Maxwell House Coffee) all raised their coffee prices recently. For Kraft Foods it marked the first time they raised the price of their single-serve coffees in history.

Despite the increase in price, trend researchers don't think people will be kicking their caffeine habit any time soon. Daily rituals are hard to break, even if it means paying a little more.

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