Stephanie Hallett
November 23, 2016 11:53 am
Instagram/Starbucks

The last thing you want to hear during the most expensive time of year is that your favorite coffee drink is going up in price, but that’s the sad news we have to deliver today from Starbucks. The company quietly raised prices on many of its cold beverages and baked goods on November 10th by between $0.10 and $0.30, jacking up the average customer’s bill by about 0.5%.

The company last raised prices in July, increasing the cost of select sizes of brewed coffee by $0.10 to $0.20, and the price of espresso and tea latte drinks by between $0.10 and $0.30.

This is the fourth time in three years that Starbucks has raised its prices, likely because of lower-than-expected sales growth. A rep for Starbucks explained the rationale for raising prices to Consumerist, saying, “We continually evaluate pricing on a product-by-product and market-by-market basis in our stores in order to balance our business needs while continuing to provide value to our loyal customers and to attract new customers.”

While price hikes suck for consumers, the upside is that Starbucks employees recently got a raise of at least 5% nationwide; with more than 150,000 employees working in 7,670 stores, that raise will surely help a lot of individuals and families — especially during the holiday season.

So let’s try to look on that bright side, shall we?

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