Starbucks Raising Prices Although Coffee Bean Costs are Down

Looks like you might have to fork over a few more cents for your daily coffee at Starbucks.

Starbucks is raising prices on average by 1 percent nationally starting on Tuesday, June 25, according to the Associated Press.

A small brewed coffee could see the price increase by 10 cents at most while other drinks could increase by more than that. 

However,  Starbucks said its medium and large brewed coffees and Frappuccinos won't change in most its 11,000 U.S. cafes.

Oswego's Starbucks is located at 2750 Route 34.

The price increase comes even though bean prices are dropping, according to the Associated Press. An analyst estimated that this year Starbucks will spend about half the $1.4 billion it did for coffee in 2012.

Starbucks said though that coffee represents just one of its many costs and tends to account for less than 10 percent of overall store expenses.