J.M. Smucker Company

Starbucks price hikes go into effect today

Starbucks Corp is raising prices on some drinks in its U.S. stores starting Tuesday.

The increases, announced Friday, come just weeks after J.M. Smucker Co raised list prices of its well-known Folgers and Dunkin' Donuts brands, for the first time since 2011 because of soaring green coffee costs.

Dunkin' Brand Group Inc also has said it expects “modest increases in coffee prices” at its Dunkin' Donuts restaurants.

Starbucks' more than 7,100 company-owned U.S. stores arre raising the price of some drinks by 5 to 20 cents. The cost of grande (16 oz) and venti (24 oz) brewed coffee will increase 10 to 15 cents in most markets.

The coffee chain characterized...