Coffee is a very popular commodity on a global scale. Its consumption is somewhat influenced by the fact that coffee is addictive and potentially harmful to health. Using price elasticity, income elasticity, and subsequent multiple regression, the demand function for coffee is formulated on a sample of the EU countries. Our findings confirm that in today´s Europe, coffee is considered an inferior good with almost perfect price inelasticity. This confirms the importance of coffee for everyday consumption, and at the same time, determines the awareness of potential health risks it possesses for consumers in the case of its excessive consumption. The obtained results could be applied in further analyses of coffee within the supply-demand chain, including new views on the heterogeneity of coffee as an economic asset.

The research goal presented in this paper was to determine the strength of the relationship between the price of coffee traded on ICE Futures US and Consumer Price Indices in the major urban agglomerations of the United States—New York, Chicago, and Los Angeles—and to predict the future development. The results obtained using the Pearson correlation coefficient confirmed a very close direct correlation (r = 0.61 for New York and Chicago; r = 0.57 for Los Angeles) between the price of coffee and inflation. The prediction made using the SARIMA model disrupted the mutual correlation. The price of coffee is likely to anchor at a new level where it will fluctuate; on the other hand, the CPIs showed strong unilateral pro-growth trends. The results could be beneficial for the analysis and creation of policies and further analyses of market structures at the technical level.