MIAMI (CBSMIAMI/AP) – Coffee lovers in South Florida can breathe a sigh in relief knowing their daily dose of Starbucks coffee will not cause any more damage to their wallets.
Starbucks announced Tuesday that they will be raising some prices about 1 percent in the Northeast and Sunbelt regions. Those exempt from this price hike include Florida and California.
The price for a “tall” coffee will go up 10 cents in the regions, and the chain will raise prices on about six other beverages. But beverages that are “grande,” the next size up, won’t change.
According to spokesman Jim Olson, the prices reflect competition in certain markets and higher costs for coffee, fuel and other commodities.
The last across-the-board price increase was in 2007.
Starbucks has been a standout among its peers in the tough global economy because consumers have returned to small luxuries like lattes. But it is facing challenges ranging from the drag of a weak economy on its customers to higher costs.
While Starbucks won’t disclose the whole list, some cities affected by the price increase include New York, Washington D.C., Boston, Atlanta, Dallas and most Southern states.
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