Speed Reads


Starbucks' price hike will go into effect tomorrow

Starting tomorrow, your caffeine fix will be more expensive.

Starbucks confirmed Friday that it plans to raise prices on its packaged and roast coffee, including brewed coffee in stores. The new prices for brewed Starbucks drinks will go into effect Tuesday.

Fortune reports that brewed coffee prices will rise by 10 to 15 cents for grande and venti sizes, while tall cup prices, as well as venti latte prices, will rise an average of 15 to 20 cents. Specialty items such as the Frappuccino, however, won't see price increases.

The price of Starbucks' ground coffee in grocery stores and other retailers was increased Saturday by an average of eight percent. While many coffee companies have raised prices this year to offset Brazil's drought, Starbucks spokesperson Zack Hutson said energy and labor costs are also behind the move.