Starbucks fiends may be feeling a little lighter in the wallet today, as the chain raised prices for approximately one-third of the drinks on its menu today.
Many customers got an accidental sneak peek of the more expensive drinks nearly two weeks early, however; on July 1, the company issued a statement admitting that "the price adjustment was prematurely entered into the point of sale systems," resulting in some customers being overcharged by up to 30 cents.
As usual, the chain is being somewhat opaque about exactly which drinks are getting pricier: According to a release, Starbucks customers "will experience increases of 10 to 20 cents on select sizes of brewed coffee..., and 10 to 30 cents on espresso beverages and tea lattes." Starbucks prices vary by location, with the highest prices typically seen in major cities. The company also notes that "65 percent of beverage prices have not changed."
An extra quarter may seem like a drop in the bucket when you're already dropping five bucks on a cup of coffee, but many customers are definitely feeling the pinch this morning:
My local Starbucks raised the price of their cup of coffee by 11¢. SB sells about 1mill coffee's per day. That's a $110,000 increase today.— Goliath Flores (@GoliathFlores) July 12, 2016
@Starbucks In NYC I can't afford 32 extra cents every morning for your lattes. You changed rewards and now this? So disappointing.— Lynzee Marmor (@LynzeeMarmor) July 12, 2016
Starbucks increased their already high prices. My drink use to be $4.86 now it's $5.03— TaMeika Carter (@mrs_tcarter) July 12, 2016
This marks the fourth straight year in a row that Starbucks has instituted a mid-year price hike; last time it raised menu prices was July 2015, when the cost for select drinks went up between 5 and 20 cents.
Meanwhile, the company also just announced it's raising wages for thousands of employees: Come October, all baristas and managers at company-owned stores in the U.S. will see their base pay increase by at least five percent.