Restaurant Brands International, the parent company of Tim Hortons is hiking prices, despite reporting higher earnings last quarter-thanks to their Justin Bieber collaboration!
“Given the level of commodity costs and labour inflation we’re seeing, we expect additional price increases in 2022,” said CEO José Cil.
Cil points out that the price hikes at Tim Hortons are typically in line with or just below the consumer price index. Your Large and extra-large coffee is now 7 cents more!
It’s not just Tims that is increasing prices this year. Starbucks is also planning on making price changes in Canada this year!
The reason that customers will have to pay more include increasing inflation, wages, customer demands and other costs.