6:52 am May 25, 2011, by Henry Unger
One fuels your body and the other your car.
But while the increase in the price of coffee has outstripped the hike in gas prices, consumers seem more tolerant of the former, Associated Press reports.
Unlike many other discretionary items, coffee usually emerges from a recession relatively unscathed, economists told AP. That’s because when money is tight, people may buy cheaper brands of coffee, but they won’t give it up completely.
Consumers won’t give up gas either, but we fume as we fill up our tanks to $40 or $50 or $60. And we look for ways to cut the cost — sometimes by combining or foregoing trips and sometimes by searching for the cheapest gas available.
I certainly get a lot more upset about rising gas prices than I do about coffee, which I would never give up in the morning.
How about you?
Are there price increases of other items that you also take in stride?
- Henry Unger, The Biz Beat
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