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Dec 14, 2023

Study finds Virginia Beach spends the most on coffee

by: Aime-Lynne Perez Posted: Feb 7, 2023 / 05:13 PM EST Updated: Feb

by: Aime-Lynne Perez

Posted: Feb 7, 2023 / 05:13 PM EST

Updated: Feb 7, 2023 / 05:13 PM EST

VIRGINIA BEACH, Va. (WAVY) – Time to buy a coffee machine! According to the Bureau of Labor Statistics’ December 2022 Consumer Price Index, the price of coffee has gone up 15.5% in the past year and a new survey found the city that has been affected the most is Virginia Beach.

A cup of cappuccino in Virginia Beach could cost about $5.75, which takes up 2.18% of the average citizen's weekly income. The data from real estate firm Clever surprisingly found that Riverside and San Jose, California had the lowest price of $3.88.

If coffee is an essential part of your morning, Rachael Camp, a certified financial planner and the owner of Camp Wealth, told CNBC says there is a way to save money and still get your fix.

Camp suggests using a method known as the 80/20 rule. Also known as "reverse budgeting," this rule says 20% of a paycheck should automatically going towards investments, bills, and debts, and the remaining 80% can go towards both needs and wants, like entertainment, clothing, and treats (including coffee).

Overall, the increase of coffee prices continues the trend of nationwide inflation, which has seen other necessities such as food, insurance, and public transportation increase as much as 60% since December 2021.

Cities with the most expensive cup of cappuccino:

Cities with the least expensive cup of cappuccino:

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