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U.S. Starbucks ups the cost of a cup 10 to 20 cents

June 8, 2018

Starbucks said this week it raised the price of a regular drip coffee by 10 to 20 cents in most U.S. stores on Tuesday, according to Associated Press on Yahoo.finance. 

Budgeting for the weekly caffeine fix at the mermaid-emblazoned chain will now cost customers $1.95 to $2.15 in most locations for a small brewed coffee, while other drink prices, like lattes and iced coffees, remain the same, the AP reported. 

The increase —which differs by market — went into effect Tuesday, according to the article, which quoted a company spokeswoman as saying that the increase was in sync with the inflation rate of food prices of items purchased away from home. She said those are hovering around 2.2 to 2.4 percent. The spokeswoman told the AP that the increase wasn't due to store closures and training on diversity at the chain that took place last week. 

The company's most recent financials in April showed a 13.9 percent increase in Q2 net revenues to $6 billion. Earlier this week, the chain's longtime leader and Executive Chairman Howard Schultz announced he is stepping down on June 26, after having transferred his CEO position to Kevin Johnson in April 2017.