SHANGHAI -- Starbucks on Monday said it will lower the price of some iced drinks in China by an average of 5 yuan (70 cents) starting Tuesday, aiming to appeal to the country's price-conscious consumers.
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Starbucks cuts China prices in fresh sign of deflationary pressure
U.S. coffee chain to shave 70 cents off selected iced beverages
A Starbucks Reserve Roastery in Shanghai. The U.S. chain faces heavy price competition in the world's No. 2 economy. (Photo by Wataru Suzuki)
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