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Starbucks Raises Price of Its Coffee

Starbucks

Starbucks increased their prices on cups of coffee, with the hike coming in response to an increase in operating expenses and cost of sales, the Wall Street Journal reports.

The popular coffee chain has raised its prices at nearly 8,000 U.S. locations by anywhere from 10 cents to 20 cents. That’s the third increase in three years.

A 12-ounce “tall” brewed coffee will now cost between $1.95 and $2.15, depending on location. (Prices on other popular Starbucks beverages have largely stayed the same.)

The heftier prices come just two days after CEO Howard Schultz announced plan to step down, amid rumors he is considering a presidential campaign.

The increase in price comes after the chain added several new items to its menu, including the Triple Mocha Frappuccino, Ultra Caramel Frappuccino the Serious Strawberry Frappuccino.