Starbucks beverages could soon cost more money
NEW YORK, N.Y. — Starbucks is raising prices.
Customers will pay 10 cents to 20 cents more for “select sizes” of coffee drinks and 10 cents to 30 cents more for espresso and latte beverages. The price hikes will vary by market, Starbucks said Tuesday.
But it said that 65% of its beverage prices remain the same.
The price increases were announced one day after CEO Howard Schultz said store employees and managers would get raises of at least 5%, starting October 3.
The price hikes were originally announced the first week of July after some customers were mistakenly charged the higher prices before they were scheduled to go into effect.
Starbucks explained on July 1 that the price increases were prematurely entered into company systems.
Starbucks has raised prices every summer since 2013. Last July, it increased some prices by 5 cents to 20 cents on mostly hot beverages.