Starbucks Prices on the Rise for the First Time in Years

Starbucks coffee drinkers better start preparing to pay more for their favorite cup of joe.

The price of the company's whole beans is going up 17 percent July 12, a rise in prices for the first time since 2009. One price jump previously occurred in March on packaged beans sold in grocery stores, but this new hike impacts the one-pound bags of roasted whole beans Starbucks sells in its U.S. retail stores, according to the Huffington Post.

The price increase will bring the packaged coffee sold in its stores to a range of $11.95-$14.95 per pound, from the current range of $9.95-$13.95.

According to a story by the Seattle Times, Starbucks is responding to rising coffee prices that are almost double in the last year and at its highest in almost three decades.

For more details on the coffee industry and an explanation of the rising prices, check out MSNBC.com's story here.

And as the sign outside says, "Stock up on whole beans while the price is still right."