You’ll be spending a little more on your daily grande non-fat iced caramel macchiato with whip from Starbucks come Oct. 3 — 1.9 percent more to be exact (or roughly $0.05). The coffee chain is also raising the price of their whole coffee beans by $0.50 a pound. It seems that it isn’t only the little guys who are getting hit by rising fuel and energy costs.
The price increase will affect the approximately 6,000 company-operated stores in the U.S. and Canada. The price increase will be consistent, regardless where you live or what kind of milk you prefer in your overpriced cuppa joe.
The rise in expenditures hasn’t slowed the virus-like expansion of the brand, however. According to the AP, the coffee retailer has said it expects to open 30,000 stores worldwide.
Is $0.05 really a big deal? Are people going to stop drinking Starbucks coffee? Probably not. If you don’t care about spending between $2.70 and $3.40 for a tall (small) mocha drink then the extra five pennies won’t matter. But with a company as large and successful as Starbucks is it really necessary?