STARBUCKS and the S-11 chain of coffee shops have become the latest to raise the price of a cup of coffee.
On Wednesday, Starbucks hiked drinks prices by between 10 and 30 cents. A tall latte is now $5.50, up from $5.30, and a tall mocha frappuccino is $5.80, up from $5.50.
S-11 put up signs at its drink stalls announcing price increases for coffee, tea and Milo, which started from Jan 11. A cup of coffee is now $1, up from 90 cents.
The increases come after a third chain, Ya Kun, raised its coffee prices by 20 cents last month.
Poor weather and lower production in coffee-growing nations drove bean prices to a 13-year high last year but the cost is only just filtering down to consumers here. And it is no use relying on sugar to sweeten the pill. Prices of this commodity, used in roasting coffee beans, rose by 30 per cent in the past year.
A Starbucks spokesman said it raised prices to keep up with the sustained increase in the price of green Arabica coffee, as well as volatility in the price of other key raw ingredients.
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