Starbucks to raise prices, blaming inflation. It's the third price hike since October
CBSN
Starbucks is planning to hike its prices this year, its third increase since October, as large U.S. restaurant chains try to blunt the impact of the most ferocious inflation in decades by passing costs along to consumers.
Fast-food restaurants hiked prices 8% last year, federal labor data show. The Consumer Price Index, a key gauge of inflation that looks at a basket of goods, rose 5.8% in 2021.
Starbucks didn't say how much it plans to increase prices, but the cost of a cup of its brewed coffee has inched steadily upward. The company had already boosted prices in October and again last month, executives said on Tuesday.
Billions of cicadas are emerging across about 16 states in the Southeast and Midwest. Periodical cicadas used to reliably emerge every 13 or 17 years, depending on their brood. But in a warming world where spring conditions arrive sooner, climate change is messing with the bugs' internal alarm clocks.
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