Your Starbucks latte is going to cost you a little bit more next week. The coffee chain on Tuesday is set to raise prices on some of the drinks it sells in its U.S. stores by an average of 1%.
The price hike will affect beverages including Starbucks' brewed coffee, tea, latte and espresso drinks, said spokesman Jim Olson. While drink prices vary from city to city, Olson said that customers in some markets could pay about 10 cents more for a tall brewed coffee.
Still, less than one-third of all Starbucks beverages will be affected by the new prices, he added.
For instance, prices will not increase at a vast majority of Starbucks stores for its venti and grande-sized brewed coffees, or for its Frappuccino drinks.
This is the first price hike in nearly two years for the coffee chain, according to Olson, who said the rising cost of labor, raw materials and rent triggered the move.
Read - Next week you'll pay more for a Starbucks latte
You figure the 40% drop in coffee price can offset the other rise in costs. Nope, they just want more $!
OMG boycott $tarbuck$ for price gouging!
Seriously, though. It's 10 cents, hardly newsworthy.
The story was generated from CNNmoney.com. It is, in fact, newsworthy in that section. Starbucks is a publicly traded company. News like this could trigger a decrease in stock price causing both a lot of buying or selling. Which, in turn, effects all stock holders. Which could be you in the form of mutual funds within your 401(k)
Interesting-Obviously this guys Mommie has put him into time-out...Too much time in his hand.
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