DENVER (CBS4) – The price of a pound of raw coffee beans has almost doubled in 12 months. Transportation costs, demand and some disappointing harvests have all contributed. But are consumers willing to curb their coffee craving and what are coffee shops doing to keep the morning fix affordable?
CBS4’s Suzanne McCarroll found people spending their Fourth of July savoring coffee drinks, but lamenting their costs. Whether they buy bulk coffee or a specialty drink, prices are going up.
From Starbucks to Costco, prices have increased. Some of the independents shops in Denver are trying to avoid marking up their drinks, but consumers are well aware that each sip is costing more.
Even on a holiday, Stella’s Coffee does a stellar business. The drink prices there have remained pretty steady, but it hasn’t been easy. Stella’s has stopped having their milk delivered to cut down costs. The owner has changed his business account to a closer bank to cut down on gas costs. But it’s not just the cost of coffee beans that’s impacting business.
“Sugar has gone up a lot; chocolate, like our mochas. The cost of our mochas is definitely going up,” the barista at Stella’s said.
Consumers have already seen price increases elsewhere.
“(It’s) $2 for a medium coffee. It used to be lattes were $2.50, now they’re 4 bucks,” a coffee drinker said.
Some consumers say if prices go up too high they’ll wean themselves off their daily cup.
“If it was too much, I’d find something else,” another coffee drinker said. “I’ve done it before and I can do it again.”
Stella’s barista says despite their best efforts, the prices are changing.
“I’ll just have a new menu board printed and they’ll go into effect n the next few weeks,” she said.
In the meantime, coffee drinkers are savoring each tasty, yet pricy sip.
Obviously brewing coffee at home and buying generic will save the most money.
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