Coffee Giant Charges a Little More for a Latte

By: Associated Press

Updated: Tue 8:22 AM, Jul 31, 2007

Fans of Starbucks are paying more for their favorite drink Tuesday as a 9-cent price hike takes effect.

Starbucks cites rising costs, including dairy products, energy and fuel. In a statement issued after markets closed Monday, Starbucks said the price hike bumps the cost of most drinks by about three percent.

The increase will apply to coffees, lattes, frozen Frappuccinos and some tea-based drinks, including fruit and tea blends made behind the counters in all of its domestic company-operated stores.

The increase will not apply to bottled drinks or food.

The company's last price increase of 5 cents was last October.

The world's largest specialty coffee retailer has about 6,300 company-operated stores in the United States, plus about 3,500 licensed stores.

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Coffee Giant Charges a Little More for a Latte

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