Chicago Starbucks Increase Prices For Hot Brewed Coffee
CHICAGO (CBS) -- Starbucks has made headlines recently several times in recent weeks after the arrest of two black men sparked national outrage, causing stores to be closed for anti-bias training.
The coffee giant's founder, Howard Schultz, announced he's stepping down.
Tuesday, CBS 2 discovered something that might make customers upset.
Inside a Starbucks shop in the Loop Tuesday morning, a cup of coffee cost $2.25.
By afternoon, the same grande coffee cost $2.45.
"I feel like I could use the 20 cents for something else," stated a Starbucks customer.
Down the street, a CBS 2 employee used to pay $2.51 with tax for her morning java. Tuesday, the price increased to $2.73 – a 22 cent hike, with tax.
"That's kind of annoying," said a Starbucks customer leaving the store. "I could be doing so much more with my extra money."
A Facebook post about the 22 cent price increase on "black coffee" prompted speculation on social media, like "they have sensitivity training to pay for" or a "restroom maintenance fee."
Could there really be a connection?
"That's a great question," stated RJ Hottovy, a Senior Analyst at MorningStar. "But I don't think it's tied to the recent issues they've had."
He says they may need to raise prices to keep up with inflation.
"Typically, there's a big price increase in June or July and I don't think you'll save money by going to other coffee shops," explained Hottovy. "Starbucks competitors will use this to increase. Typically, they will increase prices quickly, within a matter of weeks."
The exceptions, he says, include places like Dunkin Donuts and McDonalds, which promote their value, which is not lost on some coffee lovers.
A Starbucks spokesperson tells CBS 2 Tuesday's price increase is only in the Chicago area and only on hot brewed coffee. She adds Starbucks price increases are in line with other restaurants and Starbucks hike is not connected to the recent store closures for training.