Sorry, coffee lovers – your Starbucks order just got a little bit more expensive.
Starting on Tuesday, Starbucks says it is hiking the price on beverages. The cost increases will range from 5 to 20 cents, with the price of a cup of coffee (tall or venti) increasing by 10 cents in most parts of the U.S.
An extra 10 cents isn’t going to make a huge difference in most customers’ orders, with Starbucks saying that the pricier offerings will lead to the average ticket price growing by about 1 percent. Notably, food prices will not increase – potentially as part of the coffee giant’s attempts to increasingly focus on food. Other items that will not be affected in most stores include grande brewed coffee, Frappuccinos and fruity Refreshment beverages.
“This price adjustment applies to our company-operated stores across the country, but prices will continue to vary on a market-by-market basis,” Starbucks spokesperson Lisa Passe said in an email.
The company says the price hike is due to coffee and commodities costs, as well as expenses such as rent, labor, marketing and equipment.
The coffee industry is currently in a peculiar position in the U.S., as Americans are spending more money than ever ($11.9 billion last year), but cutting back on the amount of coffee they consume. Due to the aging American population and the increasing availability of single serving coffee, the U.S. Department of Agriculture expects the forthcoming 2015-2016 season to feature the first dip in coffee intake in the U.S. in six years.