Starting today, Starbucks will be raising its prices once again.
The Seattle-based coffee company announced that the increases will range anywhere from 5 to 20 cents for some drinks, according to USA Today. It had previously raised prices nationally only about a year ago.
Starbucks' small and large brewed coffee will be raised by 10 cents in most parts of the country, making a venti coffee $2.45 in most U.S. stores. The company continues to raise prices to "balance the need to run our business profitably while continuing to provide value to our loyal customers and attract new customers."
Lisa Passe, a representative for Starbucks, has said that the food items prices will remain the same because its is constantly trying to get more customers to buy the food items in hopes of driving sales, according to the New York Post.
However, other coffee sellers are cutting their prices. The J.M. Smucker Co. said its prices would be cut on their coffee products because of declines in the future cost of unroasted coffee means. Starbucks, on the other hand, said that the coffee costs are only a small part of its decision to raise the prices. Rent, labor, marketing and equipment play a huge role in this decision.
Starbucks has also just announced that its latest addition, Cold Brew iced coffee, will become a permanent menu item in stores all over the country, according to Us Weekly. The cold beverage is different from its normal iced coffee because it's brewed in cold water for 20 hours instead of heat, which creates a much smoother and sweeter drink.
