Tim Hortons announces price hike

QMI Agency

, Last Updated: 6:12 PM ET

Tim Hortons has raised its prices on baked goods and sandwiches this week due to an increase in operating costs, the coffee giant said Friday.

The price of a muffin will rise about five cents and the cost of a sandwich about 10 cents, spokesman David Morelli said.

A cup of coffee will remain the same.

The last time the chain raised its prices was in April 2011, due to a jump in commodity prices.

Tim Hortons was founded in Hamilton, Ont., in 1964. It is now the country's biggest restaurant chain with more than 3,700 locations in North America.


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