OAKVILLE, Ont. — Tim Hortons is set to hike its prices next week, raising the price of coffee by an average of 10 cents, according to the Canadian Press.
Both coffee and breakfast sandwiches will reportedly be affected by the increase, which will vary by region. The Oakville, Ont.-based chain is coping with its increased operating costs that are affected by the rising cost of coffee beans and meats.
Earlier this month, Tim’s CFO, Cynthia Devine, told the news source that futures contracts for Arabica coffee nearly doubled this year due to factors that include reduced rainfall in Brazil. [cbc.ca]
