Starbucks raising prices on some drinks, packaged coffee
Your morning jolt is about to get a little more expensive, at least if you drink Starbucks. The company says it’s raising prices for some drinks and packaged coffee over the next month.
Starting Tuesday, some drinks in company-operated stores will cost between five and 20 cents more, Starbucks says. For example, a 20-ounce, venti brewed coffee will now cost up to $2.35, The Wall Street Journal confirms. But the company says it won’t make any changes to some of its other most popular drinks.
The cost of roast and ground coffee at the grocery store will rise 8 percent on average, or about $1 a bag, on July 21. The price of packaged coffee sold in Starbucks stores will not increase. Neither will K-cup single serve coffee packs, VIA instant coffee and Seattle’s Best Coffee.
The move follows price increases by major competitors earlier this year. J.M. Smucker, the owner of Folgers and Dunkin’ Donuts, increased the cost of packaged coffee by 9 percent earlier this month. Kraft Foods followed with 10 percent increases for both Maxwell House and Yuban.
Starbucks previously lowered packaged coffee prices by approximately 10 percent in 2013, so the increase effectively restores prices to previous levels, a spokesperson says.