Bad news for all you Starbucks addicts. They’ve been raising prices. How can a cup of coffee go any higher you might ask? Apparently it’s easy with this consumer staple haha.
Bad news for Starbucks customers was announced on Tuesday. New York, Washington, D.C, and most Southern states will be included in the 1% price increase. This is the first price increase across the board since 2007. The specific states have not yet been released. “The price for a “tall” coffee will go up 10 cents in the regions, and the chain will raise prices on about six other beverages. But beverages that are “grande,” the next size up won’t change.” The hike in prices is said to be due to an increase in the rates for ingredients and transportation. With a weaker economic market, will the increased cost of an already ridiculously expensive cup of coffee cause Starbucks to lose customer loyalty or will it help Starbucks financially?