I saw this coming. Really, I did.

I saw it when I went to the corner store for a gallon of milk. Today I am paying $1.00 more per gallon than I paid just 8 months ago.

Starbucks Corp will raise U.S. prices on coffee, lattes and other drinks by an average of 9 cents a cup next week to help offset soaring costs for milk and other commodities, a spokesman said on Monday.

The widely anticipated move marks Starbucks’ second price increase in less than a year and comes a month after the coffee shop chain’s chief financial officer warned it would be “very challenging” for Starbucks to meet the high end of its 2007 earnings forecast, in part because of rising dairy prices.

U.S. milk prices have soared recently amid strong global demand for dairy products and higher production costs.

Our local stores here have been telling us that the increase in dairy prices were caused by the drought in the area. Yeah, uh huh. I saw this coming.

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