Business

Starbucks raising prices

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Starbucks expects high prices for things like coffee, milk and fuel to cut into profits this year and — along with restaurant operators ranging from Chipotle Mexican Grill to McDonald’s Corp — is raising prices to help offset some of that cost pressure.

In New York City, prices for 12-ounce “tall” brewed coffees and latte drinks each will go up 10 cents. Prices on about a half a dozen other beverages also will increase, Starbucks spokesman Jim Olson told Reuters.

Full story: Starbucks raising prices in US Northeast, Sunbelt | Reuters.