Starbucks raising prices on some drinks

Just when you thought your latte couldn’t get more expensive, Starbucks announced Tuesday that it is raising prices on some of its beverages in U.S. stores.

Some sizes of coffee will see price hikes of 10 to 20 cents, the coffee giant said, while espressos and tea lattes could see jumps of up to 30 cents. 

“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,” the company said in a statement. 

Customers will experience about a 1 percent increase in their purchase cost, according to Starbucks. The company also noted that 65 percent of its beverage prices will not change.

The news comes a day after Starbucks announced that it will increase wages for baristas and managers in all its U.S. stores by 5 percent starting in October.