Starbucks coffee prices to go up 1 percent on Tuesday

NEW YORK

The price hike will affect Starbucks' brewed coffee, tea, latte and espresso drinks. While drink prices vary from city to city, customers in some markets could pay about 10 cents more for a tall brewed coffee.

According to Starbucks, this will be the first price increase seen in about two years.

The Seattle-based company says the price for many drinks, such as medium and large brewed coffees and Frappuccinos, won't change in most of its 11,000 U.S. cafes.

The hike comes despite a boost in profits from declining coffee costs. In the last quarter, Starbucks cited lower coffee costs for a stronger operating margin, which represents the money it pockets from sales after subtracting what it pays to keep stores running.

The Associated Press contributed to this report.

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