The cost to make a flat white, one of the most popular Australian coffee orders, jumped by nearly one-fifth.
The result is smaller profits, a shrinking pool of regular customers and business owners heading for the exit.
Before COVID-19, hospitality venues were about one-third of Australian small businesses advertised for sale.
It paused in July but warned it may resume hiking if inflation, still running at 7%, fails to slow.
"Some of my regulars I used to have will still come and get coffee and say, 'We had to bring lunch.
Persons:
Jack Hanna, Hanna, Damian Krigstein, Peter Meredith, Guy Cooper, insolvencies, Patrick Coghlan, that's, David Cox, Cox, Byron Kaye, Lewis Jackson, Praveen Menon, Sonali Paul
Organizations:
Reuters, SBS Business, Link Business Sales Australasia, Australian Securities and Investments, Thomson
Locations:
SYDNEY, Europe, Sydney, Ukraine, Sydney's