Even for those of us who try to live on the cheap, treating yourself to a nice hot cup of coffee while out on the go can be totally worth it. Sure, making coffee at home is much cheaper, but sometimes it’s worth paying an extra dollar or two when you need that unexpected pick me up (or sugary treat) to keep you going throughout the day. Unfortunately, getting your coffee fix is about to get more expensive as America’s favorite coffee chain, Starbucks, has raised prices on their brewed coffee in most U.S. states.
The price of a regular drip coffee at Starbucks will go up by between $0.10 and $0.20 in U.S. stores, raising the price of a tall (12 oz) brewed coffee to somewhere around $1.95 to $2.15 at most locations. The company says the price hikes are in line with standard industry practices and the inflation rate, with an average annual price increase of 1.7% over time.
The price increases come at a bad time for Starbucks, which has seen its share of bad press lately thanks to a few recent controversies. Despite the odd timing, Starbucks spokeswoman Sanja Gould told USA Today that these price hikes have nothing to do with current events:
Evaluating prices periodically allows us to balance the need to run our business profitably, while continuing to provide value to our loyal customers and to attract new customers. This price adjustment was not related to last week’s store closures and trainings.
While many frequent Starbucks shoppers will bristle at the idea of spending a few extra dollars a month on plain ol’ coffee, the price of many of Starbucks’ popular signature drinks like lattes, Frappuccinos, iced teas, or iced coffees will luckily remain unchanged – at least for now. Will this latest price increase make you look elsewhere for coffee?