Starbucks is offering a rare discount this month after raising "prices several times to address increasing inflationary pressures" over the last year. What's happening: Every Tuesday in July, Starbucks Rewards loyalty members get 50% off one handcrafted cold beverage with an offer in its app at participating locations nationwide. Details: The deal excludes "ready to drink, bottled beverages and alcohol" and cannot "be combined with other offers or discounts," according to the offer's fine print. What they're saying: In February, former Starbucks president and CEO Kevin Johnson spoke of October 2021 and January 2022 price increases with more coming. Between the lines: Starbucks Rewards in the U.S. grew 17% over the last year to 27 million members, Schultz said during the company's May quarterly earnings call. Meanwhile, on the first day of summer, Starbucks added two cold summer drinks, the Pineapple Passionfruit and Paradise Drink Starbucks Refreshers beverages to its seasonal menu.