By Xavier Martinez
Some shoppers in New York this weekend said they were trying to stock up on essentials before prices rise.
Tom Bennett of East Patchogue, N.Y., said he likes to take advantage of Manhattan-based Porto Rico Importing's online coffee sales-he usually buys 15 pounds of beans for about $200 twice each year.
Bennett, who was already in Manhattan Saturday and is expecting coffee prices to increase, decided on a whim to buy two more pounds of coffee for $46.
Coffee prices have soared in recent months as poor weather in major production regions has disrupted production. Worries about tariffs also have boosted prices.
"As long as I can afford it, at this point, I will go ahead and stock up a little bit," said the 72-year-old longtime chef, who now works as a nursing-home dietitian.
Coffee isn't the only tariff-related purchase he's made. Three weeks ago, he purchased a 55-inch television for $1,700 and a sound bar for $200, once again anticipating that prices would soon rise for electronics manufactured abroad. He also ordered a case of French and Italian wines from Albany, N.Y.-based Empire Wine & Liquor.
Bennett isn't sure how long the tariffs will last or by how much prices will rise.
"We're in uncharted territory," he said. "I'm not panic-stricken, but I'm concerned."
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(END) Dow Jones Newswires
April 06, 2025 18:58 ET (22:58 GMT)
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