Starbucks Price Hike Will Affect Northeast, Sunbelt Regions Of U.S.
Are you one of those people who constantly grumbles about $4 lattes? Brace yourself: Starbucks, patient zero of that particular fiduciary epidemic, just announced that it's raising prices once again.
The latest Starbucks price hike primarily affects Northeastern and Southern states, and will see menu prices rise by about one percent overall, reports Reuters. But the increase in prices will not be an even one percent across the board. The cost of a "tall" latte in New York City, for example, will go up by 10 cents, but prices for "grande" lattes will stay where they are.
Starbucks attributed the move to a variety of factors, but one of them is surely commodity prices, which remain high. Another factor may be the New Year's increase in the minimum wage in several states.
If some prognosticators are right, though, this latest price hike could be just a taste of trends to come. In October, the Sustainability Director of Starbucks warned that climate change could harm coffee plants' growing conditions down the line -- which could make a $4 the late 21st-century's equivalent of penny candy.
UPDATE: The AP just filed a story on the Starbucks price hike. Its version includes some more details about the regions to be affected:
The Seattle coffee chain is raising prices about 1 percent in the Northeast and Sunbelt regions. Starbucks won't disclose all of the states its raising prices, but the regions include New York, Washington, D.C., and most Southern states excluding California and Florida.
Other cities where it will raise prices include Boston, Atlanta, Dallas and Albuquerque, N.M.
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