Consumers starting to see coffee price jolt

By Associated Press
Posted Sep. 8, 2010 at 3:32 p.m.

Americans are getting more than just a jolt of caffeine with their coffee these days — the price is jumping, too.

Coffee for December delivery settled up 2.25 cents at $1.9455 a pound Wednesday after hitting a 13-year high of $1.9865 per pound earlier in the day.

Coffee futures are up nearly 40 percent since early May. This week’s rally appears to be largely speculative buying and selling by traders since fears have eased about weather and supply issues.

Meantime, coffee drinkers are paying more for some brands because companies are raising prices to offset costs.

Other commodities are mixed.

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