It’s a bad time for coffee lovers. If you drink Starbucks religiously, just know your drink could begin to burn a hole through your wallet.
The crowd’s favorite American coffeehouse chain has officially increased its prices across all branches in Lebanon. Reportedly, the price increase just began on July 22nd.
Oleksandra El Zahran, an Instagram influencer in Lebanon, used her IG stories to report that Starbucks prices have gone up by around 30%-35% due to the economic situation and depreciation of the Lebanese lira.
Joelle Bassoul, the regional media manager at Save The Children and former media consultant for Reuters, shared similar information on Twitter.
Apparently, a Starbucks barista told her that prices have increased by 30%. However, Bassoul didn’t fail to point out that employees’ salaries did not increase.
“Companies increasing their prices to maintain profits, but not to give their employees a liveable wage,” lamented Leila Molana-Allen, the Middle East correspondent for France24.
While that is beyond the main point of this article, it’s still worth noting.
Back to the price rise. The961 reached out to a Starbucks branch and verified that this is indeed true.
All items on the menu have increased in price between 30%-35%, we were told.
One thing to be happy about is that at least Starbucks didn’t officially close down as Coca-Cola or Adidas did.
The next time you get your favorite beverage at Starbucks, savor it as slowly as you can.