Starbucks Corp. says it is raising menu prices for a number of its drinks. But only in some places, like New York State.
In fact, customers in all of the Northeast plus some Sunbelt locations will be paying more under the price changes.
The average hike is 1%, so the price of a 12-ounce tall latte will go up by about 10 cents, to about $4.10, a rather ridiculous price to begin with but something coffee addicts willingly shell out. A Starbucks spokesman said prices on about six other beverages also will increase.
This is Starbucks’ first widespread price increase since 2007. However, the chain has been hiking prices here and there for several years.
Shares of Starbucks climbed by 2.2% to $47.04 following the announcement, according to NASDAQ.
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