Tim Hortons Raising Coffee Prices for First Time in Three Years
Tim Hortons says it will raise its coffee prices by an average of 1.5 per cent per cup, which works out to about three cents more.
The company explained that the increase is small compared to the rising cost of coffee overall. Since January 1, 2023, the price of coffee beans has jumped 147 per cent, according to MarketWatch.
In a statement, Tim Hortons said this is the first time in three years that it has raised coffee prices, adding that the change is “significantly below inflation” and shows its effort to keep prices affordable.
Statistics Canada also notes that tariffs are making coffee more expensive. Roasted coffee is one of many products affected by U.S. tariffs and Canadian counter-tariffs, which may increase costs for Canadian importers.
Correction, Oct. 5: An earlier version of this story mistakenly said coffee prices had risen by 1.47 per cent since January 1, 2023. The correct number is 147 per cent.
