MANILA - Starbucks Philippines is increasing prices of all of its beverages by P5 starting Sept. 13, its local operator said on Tuesday.
The popular beverage maker did not provide reasons for the price hike but it comes as sugar prices surged in the recent weeks due to supply constraints.
Sugar supply shortage is only one of the many factors that pushed inflation to 6.3 percent in August. Volatile gas prices are also influencing other commodity prices.
"Starting September 13, we increased prices by Php 5 across all our beverages...We regularly review pricing to allow us to properly balance the experience we provide customers with our need to effectively run the business," said Starbucks Philippines.
"We remain committed to providing value to customers in meaningful ways through special promotions and our Starbucks Rewards loyalty program," it added.
Sugar is a key ingredient in sweetened drinks. Some popular soda makers earlier flagged the supply shortage by saying they need more premium sugar to meet demand.
Even small-scale bakeries and pastry shops have also hiked their retail prices due to the higher prices of sugar.