Coffee prices plummet, but savings might not reach consumers

Coffee prices plummet, but savings might not reach consumers

While consumers have been trying to find ways to cope with the increasing prices of many goods, at least one commodity has become less expensive. Data from the International Coffee Organization shows that coffee's price per pound hit $1.18 in June 2013. The price has fallen every month this year so far. 

Some cafes will be able to lower their prices thanks to the diminished overhead, but not all companies will use that strategy. For instance, Sarah Wilson-Jones, chief executive and superbarista of Phoenix Coffee Co., told The Plain Dealer that her business anticipates potential increases so its prices might not change.

"We tend to be really cautious about passing on our savings in the commodities market," Wilson-Jones said. 

As a result, some customers might have trouble buying their coffee in the morning. In some cases, this may mean that employees are sluggish at work because they didn't have any caffeine. 

Small business owners can combat this issue by distributing custom mugs as promotional gifts to staff members and making coffee available in the office. This strategy ensures that workers can have their java in the morning so they're awake and alert during the day. 

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