Starbucks hiking prices in US; affected drinks will go up by 5 to 20 cents

Associated Press

Starbucks says it's hiking prices again starting Tuesday, with the increases ranging from 5 to 20 cents for most affected drinks.

The Seattle-based company also raised prices nationally about a year ago.

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A small and large brewed coffee will each go up by 10 cents in most areas of the country, Starbucks says. That would bring the price of a large coffee to $2.45 in most U.S. stores.

Some other coffee sellers are cutting prices. Last week, The J.M. Smucker Co. said it would cut prices for most of its coffee products because of declines in future prices for unroasted coffee beans. In an emailed statement Monday, Starbucks Corp. said coffee costs are only part of its expenses, which also include rent, labor, marketing and equipment.