Buzz Kill: Starbucks Raising Prices

 

Hit by the rising cost of raw materials, Starbucks will raise some of its drink prices in the Northeast and Southern states.

NEW YORK ­– Starbucks announced yesterday that as a result of rising ingredient costs, it will raise prices for beverages in the Northeast and Sunbelt regions, the Associated Press reports.

 

The coffee chain will raise prices about one percent in New York, Washington, D.C., and most Southern states, except Florida, along with Boston, Atlanta, Dallas and Albuquerque.

 

In those areas, a small coffee will increase 10 cents, while medium drinks will remain the same. At least six other unspecified beverages will also increase in price.

 

Starbucks spokesperson Jim Olson said the price increases reflect rising costs for coffee, fuel, and other commodities.

 

Starbucks last instituted across-the-board price increases in 2007.

 

For more on the rising cost of raw materials, see “Raw Deal” in the July 2011 issue of NACS Magazine.

Read the full article here:  http://www.nacsonline.com/NACS/News/Daily/Pages/ND0105123.aspx


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