☕ The price of a cup of Starbucks coffee is going up, again.
Starbucks is planning to raise prices on products in 2022, citing rising inflating and a"rapid increase" in supply chain and labor costs, Starbucks president and CEO Kevin Johnson said Tuesday duringThe Seattle-based coffee chain has already hiked prices twice in the last four months, having raised prices in October and last month.
“Although demand was strong, this pandemic has not been linear and the macro environment remains dynamic as we experienced higher-than-expected inflationary pressures, increased costs due to Omicron, and a tight labor market,” Johnson said. Because of the continuing disruptions, the company is planning even more price hikes this year, Johnson added. Starbucks did not say how much it planned to increase prices.
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