Starbucks serves up a steaming hot price increase
In case your morning cup of Joe from Starbucks isn’t overpriced enough already, the company has announced a price increase.
In anticipation of price hikes on items like coffee, milk and fuel, Starbucks will charge customers ten extra cents for tall (or “small,” in laymen’s terms) brewed coffees or lattes in the northeast and Sun Belt regions, according to Reuters.
Sure, ten cents doesn’t sound like much. If you buy a drink each morning on your way to work, it adds up to be about an extra $25 a year.
“These adjustments are the result of balancing the cost of doing business with competitive dynamics in these markets,” said Starbucks spokesman Jim Olson.
Starbucks hasn’t raised prices across the board since 2007, instead opting to do it on specific drinks in certain regions. The price increase will affect coffeeholics in major cities including New York, Boston, Washington, Atlanta, Dallas and Albuquerque because, you know, stuff there isn’t already expensive enough.