Happy New Year! If you’re a Starbucks customer then one of your New Year’s gifts may be an increase in the price you pay for your favorite breakfast beverage. Starbucks has announced that it will be raising prices on certain items and only in certain markets.
If you live in the Northeast or along the Sunbelt then make sure that you pay attention on your next trip for a caffeine-infused drink. You’ll have to play close attention, though, as the average price increase is only about one percent. To put this into perspective, New York City Starbucks customers will pay about 10 cents more for a 12-ounce brewed coffee.
While 10 cents may not make much of a difference in your dining out budget, it will help Starbucks offset rising fuel and commodity costs.
“The company previously said it expects costs for commodities such as coffee and milk to lower fiscal 2012 earnings by about 21 cents per share. Despite that, it has forecast a profit of $1.75 to $1.82 per share this year, which would represent profit growth of as much as 20 percent over fiscal 2011.” Source: MSNBC
If you’d prefer to forego the price increase and add an eco-friendly component to your morning beverage of choice, check out MNN Blogger Robin Shreeves’ article, Greening your coffee habit.