Starbucks prices hike

Starbucks prices are rising

Starbucks is hiking up their prices. Despite many consumers already feeling like the coffee-giant's

prices are way too high, the cost of a cup of coffee is going up.

On Friday, Starbucks announced that starting Tuesday many of their drink prices are increasing five to twenty cents, and bags of coffee will retail in supermarkets for a dollar more than their current price.

Starbucks Announces Price Hike

The prices will depend on the region, but we're likely to see Tall and Venti sized lattes go up between 15 to 20 cents, Grande and Venti coffees to go up 10 to 15 cents, but no increase on Grande lattes, Tall coffees, or their popular Frappacinos.

While the exact reasoning behind the price hike wasn't mentioned, a Starbucks spokesperson said, "There are many factors that contribute to our pricing decisions, including competitive dynamics and our overall cost structure."

This price increase comes just two months after Dunkin Donuts and Folgers raised the own coffee prices.

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