In what Fortune magazine describes as a “summer ritual” for Starbucks, the Seattle-based coffee chain last week raised the price of some of its items as much as 30 cents. Customers saw increases of 10 to 30 cents for its tea lattes and espresso beverages, and 10 to 20 cents on select sizes of brewed coffee.
In a brief statement on its website, Starbucks said that on the whole, the average spending by a customer per visit will rise 1% and noted that prices on 65% of its beverages have not changed. This is the third year in a row Starbucks has raised prices, according to the Fortune report.
The increases were announced a day after Starbucks said it would give U.S. store employees and managers a raise of 5% or more, beginning this fall.
The company also announced earlier this month the introduction of Teavana iced teas across selected Starbucks stores in Europe, Middle East and Africa (EMEA), beginning with just two flavors: Teavana Peach Green Tea Lemonade and Blackberry Mojito Green Tea Lemonade.
“We’re proud to be launching Teavana teas in our Starbucks stores to bring exotic blends, bold flavors and tea innovation to our customers,” said Charlotta Oldham, tea category manager, Starbucks EMEA. “Teavana iced teas are a perfect refreshing and great tasting addition to the summer menu. Our mission is to create a modern day tea culture with tea products and experiences that we hope our customers will enjoy.”
Acquired by Starbucks in 2012 and now expanding globally, Teavana offers an array of loose leaf teas and innovative tea products, which were previously only available in the U.S. and Canada.
Starbucks does not publish drink prices nationally, listing instead pricing for each store, which varies by state and region. Fast Food publishes menu pricing for all the major American fast food restaurants and coffee shops. On its website, which is not affiliated with Starbucks, Fast Food published the latest Starbucks menu prices, which are typical but can vary by store.
Caffe Latte, Venti, $4.15
Caramel Flan Latte, Venti, $4.75
Teavana Oprah Cinnamon Chai Latte, Venti, $4.65
Teavana Oprah Cinnamon Chai Latte, Grande, $4.25
Teavana Oprah Cinnamon Chai Latte, Tall, $3.65
Teavana Shaken Iced Tea, Tall, $1.75
Starbucks’s entire tea menu