It's getting a little more expensive to have a Starbucks habit.
The Seattle-based coffee company (SBUX) said Tuesday that it would hike prices by an average of 1% in the Northeast and Sunbelt regions, where prices haven't been raised in roughly five years.
Starbucks is following the lead of other food companies, including McDonald's and Chipotle, which have hiked prices in the past year to cope with rising commodity costs.
The company said the average price of a "tall" -- the smallest drink -- brewed beverage will rise by 10 cents in New York. This morning the price hike was already in effect, as caffeine cravers shelled out $2.01 for a cup of coffee, up from $1.91. The coffee house allows for some regional pricing, so the actual cost of your morning habit could vary. But that could easily bump the price of a large -- "venti" -- latte over $4 a cup, not including tip. More....Yahoo Finance
The Seattle-based coffee company (SBUX) said Tuesday that it would hike prices by an average of 1% in the Northeast and Sunbelt regions, where prices haven't been raised in roughly five years.
Starbucks is following the lead of other food companies, including McDonald's and Chipotle, which have hiked prices in the past year to cope with rising commodity costs.
The company said the average price of a "tall" -- the smallest drink -- brewed beverage will rise by 10 cents in New York. This morning the price hike was already in effect, as caffeine cravers shelled out $2.01 for a cup of coffee, up from $1.91. The coffee house allows for some regional pricing, so the actual cost of your morning habit could vary. But that could easily bump the price of a large -- "venti" -- latte over $4 a cup, not including tip. More....Yahoo Finance
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