Starbucks Price Hike on the Way

The popular coffee shop will raise the cost of its drinks and take-home coffee beans.
1:43 | 06/23/14

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Transcript for Starbucks Price Hike on the Way
Now sticker shock at Starbucks, prices will go up starting tomorrow. Take-home coffee beans will cost more too. Matt Gutman has the details. Reporter: It wasn't the jolt they were expecting. As they are caffeinating the prices, a 5 to 20 cent price spike per cup, and up to a buck per package of coffee. Last week they said they were optimistic that prices wouldn't budge. The cost of coffee is low cost with the other expenses. That Venn tee latte that I enjoyed, price is going to remain steady in. I hope so. Reporter: But the cost is going up. Prices for medium and large coffees, known as grande and venti will be especially frothy, up between 10 and 15 cents. And mocha drinks -- up to 14 cents. And it's a whopping $4.65 before tax. They blamed competitive dynamics and cost structure. Costs like materials, labor, and rent space. And you can expect to feel that coffee burn tomorrow when the price hike kicks in. The one buck boost on coffee in retailers begins in July. Remember, guys, in Ost low, now Norway, this can cost 10 bucks. Wow. Doesn't make -- Makes you feel badly for the Norwegians. Yeah, exactly. One very happy family this

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