Even the middle class is feeling inflation creep in.
Starbucks Philippines had heartbreaking news to local fans on International Coffee Day. The popular coffee chain announced that prices of their drinks will go up by 3-8 percent, or at least P5 to P10 per cup starting Oct. 1.
?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 said in a statement.
To appease weary souls, Starbucks announced a complimentary upsize for drinks for the first two days of price increase.