Starbucks customers are going to have to dig a little bit deeper into their pockets to pay for a cup of coffee.
Supply chain issues and rising labor costs are to blame.
Starbucks had about 20% more revenue in the fourth quarter in 2021 than it did during that same time span in 2020. But the company raised prices in October and again last month, citing higher food costs.
Starbucks President and CEO Kevin Johnson says price increases aren't affecting customer demand.