Starbucks To Raise Drink Prices, Add New Cold Beverages

July 7 is a big day for changes at Starbucks. The coffee shop conglomerate will be introducing new summer-related items to the menu and raising prices. The chain also raised prices last summer and the summer before.

According to The Associated Press, Starbucks is raising their prices between 5 to 20 cents per drink. But, in a statement issued to the AP, the chain explained that this higher cost will mainly apply to hot beverages, with a venti hot coffee coming to about $2.45 in most U.S. stores.

According to Starbucks, the higher prices are necessary to "balance the need to run our business profitably while continuing to provide value to our loyal customers and to attract new customers." The price hikes will not affect food items.

As we are in the middle of summer, most customers gravitate toward cold beverages. Starbucks just made cold brew coffee a permanent menu item and are introducing the Strawberry Açaí Refresher to replace the retired Valencia Orange flavor.

Other recent changes at Starbucks include new summer-inspired designs on clear plastic cups that feature flip-flops and sunglasses. We're also bidding farewell to the mini Frappuccino, which was served in brightly colored cups that a Brooklyn artist says Starbucks stole her designs for.

(Photo Starbucks Coffee Modified: Flickr/Rudolf Schuba/CC 4.0)