Us 2/ – Caribou raises prices 2.5 percent

Minneapolis – Caribou Coffee Co. Inc. said Wednesday it would raise the prices on its beverages.

Minnesota-based Caribou upped its prices by about 2.5 percent, citing various cost pressures, Reuters news service reported. Caribou recently opened a location in The Greene shopping development in Beavercreek and has a second location on Far Hills in Centerville.

George Mileusnic, chief financial officer for the chain, said at the Thomas Weisel Partners Consumer Conference in New York City that prices would increase 2 percent across the menu. He called the increase “a reaction as much to wage pressures and dairy pressures, as well as coffee.” The price hike went into effect Monday.

In July, Starbucks raised it prices by about 9 cents a cup, attributing the increase to the rising “cost of environment.” The company cited increasing dairy, fuel, and energy costs.