Starbucks Prices On The Rise

SEATTLE (AP) -- Fans of Starbucks are paying more for their favorite drink today as a nine-cent price hike takes effect.

Starbucks cites rising costs, including dairy products, energy and fuel. In a statement issued after markets closed yesterday, 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 five cents was last October.

The world's largest specialty coffee retailer has about 63-hundred company-operated stores in the United States, plus about 35-hundred licensed stores.

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