Starbucks hikes prices on coffee, espresso, tea lattes
SEATTLE (AP) - Starbucks says it's increasing prices slightly on brewed coffee, espresso and tea latte beverages.
The Seattle-based coffee chain says prices on select sizes of brewed coffee in U.S. company-operated stores are jumping 10 to 20 cents Tuesday, while prices on espresso and tea latte beverages will rise 10 to 30 cents.
The company says in a statement that pricing in stores is "continually evaluated on a product-by-product and market-by-market basis in order to balance business needs."
The price jump comes a day after Starbucks announced it would boost the base pay of all employees and store managers at U.S. company-run stores by 5 percent or more.
The company didn't immediately return a request for comment on whether the price increases are related to the wage hike.