Surging Coffee Prices Trigger Consumer Pain, Investor Gain

Starbucks Corp . (Nasdaq: SBUX ) has announced that it will charge more for many of its drinks to compensate for surging coffee prices, which have climbed to their highest level in 13. The famous coffee chain announced Wednesday it would make " targeted price adjustments on certain beverages in certain markets, " according to a press release on its Web site. Starbucks said it tried to hold off on the change, but the continuing climb of green Arabica coffee bean prices - along with the costs of sugar and cocoa - forced the company to offset rising expenses.