Starbucks to Raise Prices for First Time in Two Years

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Prepare to pay a little more for your Tall Nonfat Iced Macchiato.

Starbucks spokesman Jim Olson tells CNN that the chain will soon hike prices on its brewed coffee, tea, latte and espresso beverages by an average of 1%.

Starbucks Cup

Fewer than one-third of all drinks will be affected, Olson said, as prices will remain stagnant on all Frappuccinos, for instance.

Olson added that this is the first price increase in nearly two years for the franchise and that tall brewed coffees will go up by approximately 10 cents.

The reason for this increase? A rising cost of labor, raw materials and rent.

But it's not all bad news: This Starbucks Chocolate Cinnamon Bread Recipe can still be made from the comfort of your own home!