Starbucks has announced plans to increase its prices before theend of the year.
Starbucks officials told The Wall Street Journal on Sept. 1higher costs for dairy products, health insurance and increasedrent are the reasons for price increases.
The coffee shop giant has not said how much prices willincrease, although restaurant analysts expect costs to increasesomewhere between 4 to 5 percent, according to The Wall StreetJournal.
Starbucks has not had a price increase since 2000.
Ana Corcoran, manager of the eCommons cafe in the UnionBookstore, which sells Starbucks coffee, said she had not heard anyinformation about the price increase. But Corcoran said if theincrease does occur, the bookstore cafe would be forced to raiseits prices as well.
Corcoran said the effect on business would depend on the amountof price increase .
“If (beverages) increase five cents, I do not think that willmake that big of a difference,” Corcoran said.
Some students said they think Starbucks prices are already toohigh.
“Prices at Starbucks are already high. I usually pay over fourdollars for one beverage,” Erin Wereskla, a fashion merchandisingsenior, said.
Allison Willing, a kinesiology sophomore, also agreed thatprices were high.
“I believe if they increase prices it would affect how often Igo to Starbucks,” Willing said.