Starbucks Price Hike Brewing

What's Hot

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

Do This or Your iPhone Bill May SkyrocketSave

11 Places in the World Where You Can Afford to Retire in StyleMore

19 Moves That Will Help You Retire Early and in StyleFamily

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

50 Ways to Make a Fast $50 (or Lots More)Grow

32 of the Highest-Paid American SpeakersMake

The 35 Two-Year Colleges That Produce the Highest EarnersCollege

5 DIY Ways to Make Your Car Smell GreatCars

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

7 Household Hacks That Save You CashAround The House

5 Reasons a Roth IRA Should Be Part of Your Retirement PlanGrow

30 Awesome Things to Do in RetirementCollege

Beware These 10 Retail Sales Tricks That Get You to Spend MoreMore

9 Tips to Ensure You’ll Have Enough to RetireFamily

The coffee giant is increasing the price of some of its drinks and packaged coffee on Tuesday.

Coffee lovers: Your Starbucks fix is going to cost a little more come Tuesday, June 24. How much more? That depends.

Starbucks said many of its in-store beverages will increase by 5 to 20 cents, while its ground and whole-bean packaged coffee sold in grocery stores will go up by $1, according to USA Today.

If a Frappuccino is your Starbucks drink of choice, you’re in luck. There’s no increase planned for the iced beverage or tall brewed coffees in most regions, USA Today said.

We told you in April that coffee prices had skyrocketed after a severe drought in Brazil reduced the Arabica bean crop. But, unlike smaller coffee retailers, Starbucks had already locked in its bean prices for 2014 and 2015.

So, why the price hike? According to Bloomberg Businessweek:

Starbucks attributes the price increases to “competitive dynamics,” and the company’s “overall cost structure,” which includes the cost of commodities, labor, rent, and equipment. The announcement comes as a surprise as the company had previously said it has no plans to increase prices despite the rising cost of coffee beans.

Just a week ago, Starbucks announced that it will assist workers in paying for their online course tuition at Arizona State University. A company spokesman said the price increase is not related to that, Businessweek reported.

Will an increase in price deter you from enjoying your favorite Starbucks drink? Share your comments below or on our Facebook page.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 9 Tips to Ensure You’ll Have Enough to Retire

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,668 more deals!