Start loading up your Starbucks cards because the coffee chain is increasing its prices starting Tuesday. The move comes the same week Starbucks announced their college tuition program, but before you get all whipped up, CEO Howard Schultz denies the two are related.
The price increase will affect coffee, lattes, and mocha drinks, your precious iced coffees, teas, and cafe foods are safe, for now. Coffee prices will increase 10-15 cents while mocha and latte drinkers will have to fork over 15-20 cents more, all increases only affect grande and venti sized beverages. Besides drinks, Starbucks will also increase the price of its bagged coffee by $1 starting July 24, regardless if you purchase your coffee beans at their locations or at your local grocer.
A drought in Brazil earlier this year is to blame for coffee prices increasing, though Starbucks is late to join the price hike party other chains, such as Dunkin' Donuts, are still on the fence about raising their prices.
The price hike won't make your already overpriced lattes significantly more expensive but it might just make you rethink your Starbucks addiction, but probably not.