Small and large coffees will jump in price by about 10 cents in most parts of the US, bringing the average price of a large — and plain — coffee to about $2.45 in most parts of the country.
The Starbucks price hike comes as other coffee sellers in the country are cutting prices. The J.M. Smucker Co. said it would be reducing prices because the future price of unroasted coffee beans, the Associated Press reported.
But the coffee behemoth claims that prices are rising based on other factors, like rent, labor, marketing and equipment.
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.”
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