For the second year in a row, Starbucks is set to raise prices, tacking on anywhere from 5 to 20 cents to affected beverages' prices. Both a small and a large cup of coffee, for instance, will go up by 10 cents in most areas of the country, Starbucks says, bringing the price of a plain ol' cup of joe up to $2.45. The upped price tags will take effect on Tuesday and will apply to beverages only.
Starbucks' plan to raise prices comes amid some coffee sellers' decision to lower prices, The Associated Press reports. Just last week, The J.M. Smucker Co. docked prices in anticipation of lower unroasted coffee bean prices. According to Starbucks, its decision to raise prices included factors such as rent, labor, marketing, and equipment.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.