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Philippe's Coffee Gets A Major Price Increase

01/26/2012 01:40 pm ET | Updated Mar 27, 2012

Philippe's, the legendary Downtown eatery which opened in 1908, is now included in a long list of establishments that have been hit hard by the economy.

The famous nine cent cup of coffee will increase in cost to forty-five cents starting February 2, states the restaurant's website. The reason behind this? The rising cost of coffee beans and sugar.

"My grandfather said, 'I always wanted everyone to be able to afford a cup of coffee'," stated Philippe's general manager Richard Binder in the company's release. The only other time Phillipe's increased the price was in 1977, when it when moved from five cents to nine cents.

In a Starbucks world, forty-five cents still seems reasonable, but locals can't help but feel disappointed. In what can only be viewed as an apology, also starting February 2nd, Phillipe's will include coffee with the purchase of any full breakfast.

Travel Channel's Man vs. Food visited Philippe's to learn more about history of the french dip sandwich and how to make the restaurant's signature mustard. WATCH:

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