News

Starbucks stirs up price hikes

Starbucks is increasing prices ranging from 5 to 20 cents per drink in the U.S

July 7, 2015

Grabbing that cherished Starbucks beverage is going to get a bit pricier as the coffeehouse retailer is aiming to boost its prices in some regions.

The increase will range from 5 to 20 cents per drink in the U.S., according to a Reuters report. Not every beverage price will go up. The cost of a Grande Brewed coffee, for example, will likely remain at its current price.

According to Reuters, the average increase will be about 1 percent and will impact less than 20 percent of customers’ purchases. The $2.45 Venti will cost about 10 cents more, for example

A Starbucks spokesperson said it’s the first increase in two years, according to a CNNreport, which said Starbucks saw a 18-percent spike in profit last quarter.