Starbucks raises java prices for some
Tuesday, January 10th, 2012Seattle, WA, United States (AHN) – Get ready to peel off more bucks for your Starbucks lattes, frappuccinos, espressos and standard brews.
The Seattle coffee chain announced Tuesday that it is raising prices an average of 1 percent in the Northeast and Sunbelt regions. Cities that will see higher prices include Boston, New York, Washington, Atlanta, Dallas and Albuquerque. Prices will remain unchanged in California and Florida.
The increase comes as Starbucks faces higher commodity costs. The company will not raise prices for its packaged coffee sold in its cafes and at grocery stores. That increase came last year when Starbucks raised prices of packaged coffee 17 percent at its cafes and 12 percent at grocery stores.
The coffee giant believes the increases will have little effect on its consumer base, which is less sensitive to prices than some of its rivals.
In early afternoon trading Wednesday, shares of Starbucks were trading higher by 2 percent at $46.21 per share.
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