Is Starbucks Increasing Prices Again? (Get Ready to Pay More for Your Coffee Run)
Look for info on the latest Starbucks price increase?
Your Starbucks faves may be getting spendier.
Late last year, we may have noticed our ‘Bucks runs were getting pricier, but we were a little distracted by all the delicious seasonal flavors coming out around the same time. Now we’re sure we weren’t just imagining things.
In Starbucks’ latest Q1 Earnings Report, company representatives acknowledged the October and January increases and noted that they have additional plans to raise prices throughout the rest of 2022.
Starbucks’ Chief Financial Officer had this to say about the price increases:
“Based on the latest trends in our outlook, we anticipate over 200 basis points of incremental margin pressure in fiscal ’22 from inflation, COVID-related pay, new partner training, and support costs, as well as reduced sales from mobility restrictions combined… This investment is critical to the success of our business as we work to create a great Starbucks Experience where our partners feel supported and customers feel uplifted.” – Rachel Ruggeri, Starbucks CFO
Like many other retailers, Starbucks also referenced supply chain issues as one of the reasons for their increase. While we can’t predict exactly which items will be affected by the new raises, we’re prepared to spend a little more on items throughout the menu.
Starbucks price increases are definitely a bummer, but there are a few ways you can offset the extra cost:
- Keep an eye on the latest Starbucks deals & promos to save when you visit.
- Get a small discount on drinks when you use a reusable Starbucks cup (*may vary by location).
- Play the Starbucks for Life game to win redeemable points!
- Purchase Starbucks drinks in the grocery store and get cash back via coupons from Ibotta. Sometimes you can get them for FREE after rebate!
And of course, if you want to save a ton, try making some of your fave Starbucks recipes at home. 🙌