Starbucks Corp. said it raised prices on select sizes of brewed coffee by 10 cents to 20 cents, and on espresso and tea lattes by 10 cents to 30 cents. Starbucks said it expects the increases to increase the average customer ticket by about 1%. The company said 65% of beverage prices have not changed. “Pricing is continually evaluated on a product-by-product and market-by-market basis in our stores in order to balance business needs while continuing to provide value to our loyal customers,” Starbucks said in a statement posted on its website. The New York Post reported last week that Starbucks may raise beverage prices by as much as 30 cents soon, as they have in July the past two years. On Monday, Starbucks said it would raise wages by at least 5%. The stock, which ticked up 0.5% in light premarket trade, has declined 6.2% year to date through Monday, while the S&P 500 index has gained 4.6%.
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