Tchibo increases prices Drinking coffee is getting more expensive

Status: 14.06.2021 10:42 a.m.

The rising prices for green coffee are now also being felt by consumers: for the first time in four years, market leader Tchibo is asking more for its filter coffee. Other dealers could follow suit. In the past weeks and months, some foods have become more expensive, especially vegetables and fruits. Now German consumers also have to dig deeper into their pockets for their favorite drink. From this week onwards, coffee will be more expensive. Tchibo is increasing prices by between 50 and 100 cents per pound – depending on the variety and country of origin. The 500 gram “Feine Milde” pack will cost 5.69 euros in future – instead of the previous 4.99 euros.

A poor harvest is threatened in Brazil

Tchibo justifies the first price increase since 2017 with the rise in green coffee prices. The poor harvest forecast of the world’s largest coffee producer, Brazil, has recently pushed up purchase prices. Tchibo’s move should have a signal effect for the entire industry. Because the market leader usually gives the direction. The group can set the prices in its branches itself. Other roasters and dealers could follow Tchibo’s example.

05/28/2021

Discounters are still waiting

According to Armin Valet from the Hamburg consumer center, the supermarkets will soon follow suit. The consumer advocate predicts that coffee capsules are also likely to become more expensive soon. So far, the discounters Aldi and Lidl have been keeping a low profile. You have not yet commented on price changes. Aldi Süd and Aldi Nord have their own coffee roasters and can determine the prices of their own brands themselves.

Tchibo competitors are likely to follow suit soon

The big coffee roasters are still waiting. Melitta and Dallmayr do not want to comment on possible price adjustments. A spokeswoman for Dallmayr only confirms that the company has been massively affected by the very significant current cost increase. The Jacobs Douwe Egberts Group has announced that it has increased its factory prices due to increased purchasing costs. The Dutch group, which is controlled by the Reimann family, owns well-known brands such as Jacobs, Café HAG and Senseo. Its trading partners are, in particular, grocers who set the end consumer prices on their own responsibility.

analysis 06/09/2021

Green coffee has become almost twelve percent more expensive

The so-called ICO price index, which is made up of several types of coffee, rose by 1.4 percent in April, the sixth month in a row. According to calculations by the Federal Statistical Office, the import prices for green coffee in April were almost twelve percent above the level a year ago. The high-quality Arabica variety in particular has risen significantly in price. The prices have now climbed to their highest level in four years. In New York, Arabica coffee cost around 164 cents a pound at the beginning of June.

02.12.2019

Coffee capsule boom

Coffee is the most popular drink among Germans. The per capita consumption is 168 liters. It is true that significantly less coffee was drunk in cafes, bakeries and canteens during the corona pandemic. At home, however, German citizens consumed eleven percent more. The market for coffee capsules in particular has experienced an unexpected boom in recent years. Competition could soon intensify. With its coffee brand Costa, Coca-Cola wants to attack the market leader Nespresso. The Brause group relies on a partnership with Krüger: The German family company produces the aluminum capsules for Coca-Cola. The capsules are compatible with the Nespresso system.

Pandemic meets craft Hairdressers suffer – bicycle workshops cheer

Status: 11.06.2021 2:38 p.m.

The German trade clearly felt the consequences of the pandemic at the beginning of the year. Most of the sales fell. But there were also a few bright spots. The corona crisis has left deep marks on German craftsmanship. Some areas suffered particularly badly at the beginning of the year, while others bucked the trend and even posted gains. According to calculations by the Federal Statistical Office, sales in the craft sector fell from January to March by 7.5 percent compared to the same period of the previous year. That was the first time in eight years that the industry, which had been spoiled for success for a long time, posted declines. The weak development was accompanied by fewer staff. The number of employees in the skilled trades that required a license fell by 1.7 percent by the end of March.

The comparative period was hardly affected by the crisis

It should be noted that restrictions due to the corona pandemic did not begin until the end of the first quarter of 2020 and the results of the beginning of 2020 were hardly affected, the statisticians explained. There is thus a typical case of a so-called base effect. A high baseline makes declines more likely at a later point in time.

Lockdown slows demand

Crafts for private use were particularly hard hit. Here the minus was 23 percent. In this area, the hairdressing businesses marked the highest decline with minus 37 percent.

Not enough material

In construction, too, with a decline of almost 16 percent, things did not go well. “Companies have to register short-time working when the order books are full because they have no material,” the President of the Central Association of German Crafts (ZDH), Hans Peter Wollseifer, had only recently warned. The Prices for wood and other building materials have risen sharply on the world market, partly because of the great demand from China and the USA. While the food industry complained about a decline of almost ten percent, the business in confectioneries collapsed by 21 percent.

The bicycle boom drives business

The ongoing bicycle boom apparently brought the two-wheel mechanics significantly more repairs. These branches of industry achieved almost 27 percent more sales than a year ago. In addition, only roller shutter technicians and dental technicians recorded an increase in sales.

Prices rise by five percent Highest US inflation since 2008

Status: 10.06.2021 5:44 p.m.

In the USA, consumer prices have risen as sharply as they did almost 13 years ago – which is felt above all by car buyers. The European Central Bank also expects higher inflation in the euro countries. Is it just a short-term phenomenon or is inflation now making its big comeback? In the USA there is a growing fear of ever higher prices. Some are already pulling Parallels to the 1970s when President Jimmy Carter failed to get a grip on high inflation and job misery. Although the USA is still a long way from the double-digit inflation rates of that time, the price jumps are getting bigger from month to month. After inflation had risen above four percent in April, it has now climbed to 5.0 percent in May. That is the highest rate since August 2008. Experts had only expected an increase in the cost of living of 4.7 percent. “The dreaded five has become a reality,” said market observer Thomas Altmann from investment management company QC Partners.

Federal Reserve under pressure

The strong growth impressively proves that the price surge in April was not a slip-up, said LBBW analyst Dirk Chlench. “The US Federal Reserve is coming under increasing pressure to reconsider its view that the recent price hikes are only of a temporary nature.” As in April, the prices for used cars turned out to be the biggest inflation driver. They rose again strongly – and, according to the US Department of Labor, accounted for around a third of the monthly price increase.

Core inflation at its highest level since 1992

Particularly alarming is core inflation, which excludes volatile components such as energy and food. It climbed 3.8 percent in May. The last time there was such a sharp increase was in 1992. In April, the core inflation rate was 3.0 percent. The end of the corona lockdowns and the trillion dollar cash injections by the US government have been driving inflation in the US for months. Prominent economists like Larry Summers, Olivier Blanchard and Mohamed El-Erian warn against underestimating the danger. According to Blanchard, the high government spending under US President Joe Biden could overheat the economy.

Just a passing trend?

Most economists are still looking at the trend with serenity, however. In their opinion, the development is mainly based on temporary factors. The US service sector is back in normal mode in many places. Prices for air travel and hotel accommodation are picking up again and are well above the previous year’s level, says chief economist Thomas Gitzel from VP Bank. “So there are so-called base effects at work once more.” At the same time, the shortage of semiconductors is now at least indirectly affecting consumer prices. If there are no new cars due to a lack of semiconductors, customers switched to used cars. These would have become significantly more expensive. Gitzel predicts that the price level will slowly drop from a high level in the summer months. The US Federal Reserve (Fed) claims that inflation will only pick up temporarily. Because compared to the previous year, the economic downturn in the Corona year 2020 resulted in high rates of price increase. That is why the central bank has not yet seen itself under pressure.

Little movement on Wall Street

Wall Street barely reacted to the renewed surge in inflation. The Dow Jones rose by 0.6 percent, the S&P 500 even jumped to a record high. The US dollar gained against the euro. So investors do not anticipate a tightening of monetary policy in the US for the time being. In the eurozone, too, the money locks are still strongly open. The European Central Bank (ECB) is sticking to its trillion-dollar anti-corona crisis program (PEPP) and plans to expand bond purchases in the next quarter compared to the first three months of the year. In doing so, the central bank wants to avoid tightening the financing conditions for companies, states and private households.

ECB raises inflation forecast

The rising inflation hardly worries the euro watchdogs . The higher euro will dampen inflation, said ECB President Christine Lagarde. Nonetheless, the ECB raised its inflation forecast. According to the central bank, inflation should be 1.9 percent in 2021. In March, the ECB was still assuming an increase of 1.5 percent. For 2022, the monetary authorities expect an annual price increase of 1.5 percent and for the following year unchanged at 1.4 percent. According to the ECB, inflation that is too high can lead to a price spiral. Higher prices mean consumers get less goods for their money. So they demand higher wages in order to be able to maintain their standard of living. In turn, in order to pay the higher wages, companies continue to raise the prices of their products. On the other hand, permanently low prices are seen as a risk for the economy: companies and consumers could then postpone investments – in the hope that it will soon become even cheaper. In the medium term, the ECB is aiming for an annual inflation rate of just under two percent. In Germany, the inflation rate is already above this level. In May the Consumer prices compared to the same month last year by 2.5 percent , the highest value since September 2011.

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