Keurig Hiking Prices For K-Cup Packets

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More bad news for coffee drinkers.

Keurig Green Mountain said Thursday it plans to hike prices by 9-percent for the K-Cup packets used in its signature brewing system.

The company also plans to raise prices of bulk coffee and other products beginning in November.

Keurig Green Mountain said the decision is in "direct response" to the higher cost of coffee, which includes a nearly 55-percent rise in "Green Coffee prices."

The company said it buys much of its coffee from organic and free trade producers.

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