Starbucks customers were hit with a price increase today.
Starbucks unveiled new prices today. It is the first substantial price hike for the company in the last 18 months.
Starbucks will be raising its prices by an average of 1% on brewed coffee, tea, latte and espresso drinks. According to CNN, the price increase will hit different Starbucks locations in various ways. Other locations may see their coffee prices increase by 10 cents but won’t see a price increase for their lattes.
Spokesman Jim Olson told said that less than one-third of the beverages sold by Starbucks would be affected by the new prices. Venti and Grande-sized coffees, as well as Frappuccino drinks, will not see a price increase.
Olson said that this is the first time in nearly two years that Starbucks has raised its prices. The company spokesman said that the rising cost of labor and materials has forced Starbucks to raise its prices.
Lisa Passe, a Starbucks spokeswoman, said: “Less than a third of beverages will see a small increase in most stores.”
What do you think about Starbucks price increase? Is coffee getting too expensive? Business Week notes Starbucks customers can still get a 10 cent discount when they bring in a reusable cup.
Are you upset that Starbucks is raising its prices? Hey, at least they stopped using toilet water…
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