Starbucks PH to hike prices of drinks beginning this week

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Metro Manila (CNN Philippines, October 2) — Getting a drink from Starbucks will cost more beginning this week.

The popular coffee chain on Tuesday announced that it will raise the prices of its drinks by 3 to 8 percent in all stores nationwide. The increase is equivalent to ₱5 to ₱10.

"As part of our comprehensive approach to providing value and the Starbucks Experience, we periodically evaluate pricing to balance our need to run the business profitably while providing maximum value to our loyal customers and to attract new customers," Starbucks Philippines said.

This is the first time the coffee giant increases the prices of its beverages since December 2016.

Prices of Starbucks drinks currently range from ₱110 to ₱200.