POLL: Will Starbucks' Price Hike Change Your Coffee-Drinking Habits?
Prices reportedly will increase only on some drinks. And only in certain parts of the country.
My tall, black extra-bold coffee is going to cost me 10-cents more.
Word from Starbucks, the Seattle-based coffee company today is that prices will increase 1 percent. The AP quotes a company spokesman as saying higher costs are the reason. That same story says the last across-the-board price increase was in 2007.
But only some drinks will be pricier — apparently the next size up, 'grande,' or medium — remains unchanged.
And the higher prices are taking effect only in the Northeast — including the Boston area — and the Southwest. Florida, California and the Midwest apparently had their prices raised in the fall.
The Christian Science Monitor says the increase comes at a time when inflation appears to be heating up. The Monitor quotes US Bureau of Labor Statistics: During the past 12 months, food prices in the US increased an average of 4.6 percent, and overall consumer prices went up 3.4 percent.
So, given that context, how will you respond to Starbucks' price hikes?