Starbucks prices going up for some larger sizes
Posted July 6, 2015 1:04 pm.
This article is more than 5 years old.
Fivebucks? More like five bucks and 10 cents.
The cost of a cup of coffee is going up at Starbucks on Tuesday, with an increase coming to some of the company’s larger sizes.
The cost of venti brewed coffee is going up by 10 cents, and the cost of venti lattes, grande lattes, and caffe mochas will go up by 20 cents.
The increase is coming despite the falling price of wholesale coffee. The cost of Arabica coffee beans is down 45 per cent over the past eight months due to better-than-expected weather in some growing regions.
In fact, the J.M. Smucker Company reduced the cost of its Folgers and Dunkin Donuts coffee brands by six per cent in the United States.
“As we evaluate the business and being fair of course to customers [as well as] asking a fair price, we do have to [implement] price changes from time to time,” Kevin Reid, director of beverage at Starbucks Canada, told 680 NEWS business editor Richard Southern.
“We try to keep them quite limited and quite modest,” Reid said.
Starbucks said it is the first price increase in a year-and-a-half to three years for some of these drinks. As well, Starbucks said approximately 90 per cent of its Canadian beverages would not be affected.
