Starbucks Corp. is raising prices it charges retailers for packaged coffee by up to 12% to cope with higher costs for beans.Starbucks also raised the price it suggests stores charge to $9.99 from $8.99 for a 12-ounce package of Starbucks coffee and to $7.99 from $6.99 for Seattle's Best.
Starbucks is not alone, J.M. Smucker Co., which sells Folgers and Dunkin' Donuts brands, has increased prices several times during the past year. Sara Lee Corp., Kraft Foods Inc. and Green Mountain Coffee Roasters Inc. also have raised prices.
Why? March 9: Benchmark May arabica KCc2 futures on ICE hit a 34-year high at $2.9665 per lb.
All the while Obama marches off to open a new war front in Libya, and takes the sun on the beaches of Rio. Inflation are 'tax' hikes on your life-staples now running amok, unabated, and apparently unnoticed by the Law Professor.
