Starbucks raising prices again, one year after another price hike

Prices will increase this week anywhere from 5 cents to 20 cents

(Getty Images)

While some coffee sellers are cutting prices, Starbucks will raise prices at its stores across the US, about a year after the Seattle-based chain had another price hike.

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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