Starbucks lovers will now have to shell out more for their cup coffee as the brand is raising their beverage prices.
According to the reports, the coffee giant will be raising from 5 cents to as much as 20 cents, which will affect small and large brewed coffees, increasing the price by 10 cents in most of the US, People magazine reported.
This means that a large coffee from Starbucks would cost 2.45 US dollars.
Starbucks said in a statement that change in cost is a result of constant evaluation of the financials on their end, and striving to strike the balance between providing a product of value to their customers as while as running a profitable business. Seeking that balance has led Starbucks to raise their prices in the past, most recently around a year ago.
However, Lisa Passe, a representative for Starbucks, said that the hike won’t be applied on food products.