According to recent research by Stocklytics, high street coffee prices have seen significant increases over the last five years, with Pret A Manger leading the charge.
The study examined the prices of seven popular drinks—americano, cappuccino, flat white, latte, single espresso, hot chocolate, and a regular cup of tea—across five major UK coffee chains: Pret A Manger, Costa Coffee, Caffe Nero, Starbucks, and Greggs. Among these, Pret’s americano experienced the most substantial price hike, rising by £1.41 since January 2019. Although Pret has reduced the price of its filter coffee to 99p, the majority of its menu has witnessed considerable increments, with prices nearing the £4 mark.
Following Pret, Caffe Nero registered the next highest increase, with an average rise of £0.94 per drink, translating to a 39% increase. Costa Coffee similarly saw a significant uplift, with an average price hike of £0.91 per drink, equating to a 38% increase. However, Starbucks emerged as the second most affordable option for basic drinks, showing a relatively moderate average price increase of 25% (£0.57) during the same period. This positions Starbucks as a surprisingly cost-effective choice in comparison to its competitors.
Meanwhile, Greggs has distinguished itself as the most budget-friendly coffee choice on the high street. Despite minor increments in food prices, such as a 5p to 10p rise on its well-known sausage rolls, Greggs’ coffee prices have only seen a modest 7% increase over the past five years, making it the most affordable option for high street coffee.
The analysis also highlighted that hot chocolate remains the priciest drink across all chains, with an average cost of £3.38 as of July 2024. In light of these growing coffee prices, consumers may increasingly turn to Greggs for a more economical caffeine fix.
A spokesperson from Pret argued, “This research is misleading as it fails to take into account the significant savings available to customers through our Club Pret subscription since 2020. The cost of the subscription works out cheaper than buying two lattes every week with customers saving over £60 a month on average, so subscribers are often paying significantly less than the menu price. The data also doesn’t include our Filter Coffee price, which costs just 99p.”
As the cost of coffee continues to climb, differences in pricing strategies among major UK coffee chains have become evident. While Pret A Manger leads with the most significant price hikes, Greggs has emerged as the most cost-effective option for consumers seeking affordable coffee on the high street.