Kraft (NYSE:KFT) is reportedly raising prices of its Maxwell House and Yuban coffee brands in the US, effective immediately, according to a report from Reuters.
The price of roast and ground coffee has been raised by 12%, to 35 cents per pound equivalent, with instant coffee up about 4% to 2.5 cents an ounce.
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The company told Reuters that the price hike was due to “sustained increases in the price of green coffee.”
Kraft last raised coffee prices in early August.