TORONTO – Even with the price of coffee beans falling, a cup of joe at your neighbourhood Starbucks could be a little more expensive starting Tuesday. Some coffee items will increase from 5 to 20 cents, ABC News said.
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Other coffee retailers have lowered prices recently. But Tall (Starbucks’s 12. oz size) and Venti (its 16 oz. size) brewed coffee are both jumping up $0.10 a piece in most stores.
For example, a Venti coffee will now cost $2.45 in most US outlets.
A Starbucks statement said the company continually evaluates pricing to “balance the need to run our business profitably while continuing to provide value to our loyal customers and to attract new customers”.
Prices haven’t changed on the drinks that are covered by the hike for a year and a half to three years, Suppa said.
A representative for Starbucks, Lisa Passe, said the price increases are expected to impact less than 20 percent of customers.
The company says the price hike is due to coffee and commodities costs, as well as expenses such as rent, labor, marketing and equipment.
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Starbucks Canada will raise prices on some of its beverage sizes by 10 to 20 cents starting Tuesday. However, prices for its food items will remain the same as the company hopes to boost food sales.
