Starbucks customers will soon get a jolt before any caffeine touches their lips. The world’s biggest cafe chain is raising prices.
Raw coffee prices have been rising. Starbucks said on Wednesday that it has absorbed the higher prices until now, but no more. It said the price increases will be focused on big and labor-intensive drinks. It didn’t say which drinks, or how much.
Most of its basic coffee and espresso drink prices will stay the same or even drop in some cases, including its $1.50 tall brewed coffee.
Wednesday’s announcement also said the chain may raise the price of packaged coffee in coming months. Howard Schultz, the company’s chairman, president, and CEO, blamed the increase on a “highly speculative” green coffee market over the past six months.
Other coffee sellers have been raising prices, too. Prices for Folgers, Dunkin’ Donuts and Millstone brands made by the J.M. Smucker Co. rose an average of 9 percent last month, the company said. And Green Mountain Coffee Roasters Inc. plans a 10 to 15 percent increase next month for its K-Cup packs for the Keurig single-cup system.
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