Coffee prices set to stay high even if cost of beans falls, Café Nero founder warns

COFFEE lovers should brace for prices to stay high no matter what, Café Nero’s founder has warned. Despite rising sales at his chain, CEO Gerry Ford said branches are unlikely to cut prices even if the cost of raw beans starts to cool down. He noted “exorbitant” commodity costs that mean the days of a cheap brew are over — and warned that a cup of coffee reflects more than just beans. Industry analysts share his gloomy outlook. Lumina Intelligence said the average price of a coffee has already surged by 80p since 2022 to hit £4.02. Meanwhile, the cost…