Tim Hortons is upping its prices as coffee nears record highs

Tim Hortons is raising its coffee prices for the first time in roughly three years, calling an average increase of three cents per cup 'more than reasonable'

Tim Hortons is raising its coffee prices for the first time in roughly three years. Timmies fans can expect to pay an average of three cents more per cup — an increase that reflects rising prices around the globe.

The cost of coffee beans has more than doubled over the past three years, a Tim Hortons spokesperson said.

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According to MarketWatch , the cost of beans jumped from $2.21 to $5.45 per pound. Tim Hortons’ price hike represents an average increase of roughly 1.5 per cent per cup compared to overall inflation of approximately seven per cent over the same period.

The coffee chain called its three-cent r