Starbucks is set to raise prices on drinks sold in the U.S. by 1 percent. The price increase will include latte, espresso, coffee and tea. Prices will vary from city to city. The price hike will not include the majority of Starbucks stores venti and grande sized brewed coffees, or it Frappucchinos.
Spokesman Jim Olsen said that the price increase is due to the higher costs of labor, rent and raw materials.