You might have noticed something a little different when you bought a coffee this morning.
If you happened to get it at Starbucks, your a.m. brew cost you more today than it did yesterday. At least, it might have. Which would explain the slightly larger total you saw at the cash register, or the lack of change you received on your way out.
Starbucks Canada is hiking prices on select menu items in select areas, according to the Canadian Press. The price of a venti coffee just went up by 10 cents, while lattes in a grande or venti size will cost 20 cents more than before.
“Ninety per cent of Canadian Starbucks beverages are not changing, including some of our most popular options and sizes,” company spokeswoman Carly Suppa told the news agency.
So depending on what your go-to morning drink is, you might avoid the price sting entirely. But for the chronic coffee consumers out there, that likely won’t be the case. While 20 cents may not sound like a lot, it’ll add up to an extra $1 per week, $4 per month and $48 per year — and that’s only factoring the price increase alone.
The timing of the move seems a little off, given the price of coffee beans has been falling and similar chains in the U.S. have announced they’re slashing prices. Starbucks, however, argues the price hike has more to do with costs associated with marketing, labour, rent and so forth.
If it makes you feel better, the company is also hiking prices in the U.S., and we think they got the worse end of the deal. The price of a small and large coffee rose 10 cents almost nationwide, which means tea is likely going to become a classic American staple in the future.
Now, who wants a Frappuccino?