Starbucks Raises Prices on Coffee Drinks
Starbucks, the world’s largest coffee chain, raised prices on coffee beverages in certain U.S. markets to help recoup higher commodity and rent costs, reports Bloomberg.
“We regularly review pricing and make adjustments as needed to support the business,” Alan Hilowitz, a company spokesman, said in an interview today.
The changes are a result of “business conditions, commodities costs, occupancy costs, competitive reasons and geography,” according to Hilowitz.
“Cafes in the Pacific Northwest, Midwest and Southern California raised prices on some beverages yesterday,” said Hilowitz.
The price increases will vary by store and region.
The price increase is unrelated to Starbucks decision last week to end a $1.50 fee for whole-bean coffee purchases under a pound, which was the result of a consumer-rights investigation in Massachusetts.