While Coles recently announced locking in prices for its grocery items, 7-Eleven has boosted the price of its coffee and Slurpees nationwide as it caves to rising operational costs due to inflation.
Beginning October 4, the price of a regular cup of coffee from the store will jump from $1 to $2, while a large coffee will increase to $3 and super cups to $3.50.
Consumers who want to save costs are encouraged to bring their reusable cups in-store to save 50c.
Aside from its one-dollar coffee, the price of ice cream coffee and iced coffees will also raise prices to $3, together with the store’s hot chocolate drinks.
The price hike is the chain’s first in more than 10 years, with its regular-sized coffee priced at $1 since 2009.
Slurpees are now priced at $1 for a small, $1.50 for a large, $3.50 for super, and $4.50 for a mega-sized cup.
7-Eleven CEO and MD Angus McKay told NCA Newswire that it was no longer possible for the retail company to absorb costs.
“Although this is the first price change in more than a decade, a single $2 gold coin for a regular coffee remains among the best value offers in the industry,” he said.
“We will continue to provide our customers with great value and quality while ensuring our prices are sustainable for our store owners, suppliers and communities.”
The service chain’s drinks add to the growing list of products that have hiked its prices, along with energy, petrol, and food.
Australia’s annual inflation rate increased by 6.1 per cent in the year to June, the highest in more than 20 years. Treasurer Jim Chalmers said that the “confronting figure” will get worse before it gets better.
“It’s going to be a difficult time ahead; we expect it to get higher,” he said in June. “It will get tougher before it starts to ease.”
