Why Are Coffee Prices Trading Near Half-Century Highs?

Production problems linked to bad weather in Brazil and Vietnam have seen global supplies lagging demand for three years. That has left stocks depleted and driven benchmark ICE exchange prices to a peak of $3.36 per lb. Last time coffee traded that high was in 1977 when snow destroyed swathes of Brazil's plantations. However, the shock to consumers was much bigger back then. If adjusted for inflation, $3.36 per lb. in 1977 would be equivalent to $17.68 today. Read more here.