Inflation Hits High-End Coffee Prices in South Korea
Creatrip Team
a year ago
Starting January 23, high-end coffee brands like Paul Bassett and Starbucks Korea have announced price increases for several coffee drinks, citing rising costs of coffee beans and currency fluctuations. This trend, termed 'coffeeflation,' is causing concern among consumers as other premium brands, such as Coffee Bean, also raise prices. While mid-range brands like Ediya Coffee and Mega Coffee hold off on immediate price hikes, they acknowledge potential pressure to increase prices due to ongoing climate and economic factors. This development highlights the competitive and price-sensitive nature of South Korea's coffee market, home to nearly 100,000 cafes.
