Tim Hortons Prices Are Expected To Go Up This Year & Here’s What We Know

Who doesn't love to start their day with a fresh cup of Tim Hortons coffee? Well, it seems as if you might be paying more after Tim Hortons announced they're expecting to increase their prices in 2022.

On February 15, Restaurant Brands International (RBI), the parent company of Tim Hortons, held an earnings call regarding their 2021 fourth quarter and full year results.

José Cil, Chief Executive Officer of RBI, announced during the call that Tim Hortons experienced "notable growth". However, despite their revenue rising, it seems as if the company is also feeling the effects of inflation.

When referring to staffing and inflation, Cil said that "our brands have not been immune to these challenges," later confirming that Tim Hortons prices could be going up.

"We expect additional price increases in 2022 and are working closely with franchisees to make the best decision for guests and our franchisees," José Cil said.

Tim Hortons currently charges $1.45 to $2.17 for a cup of their brewed coffee, $9.99 for a dozen donuts, and $2.69 for 10 assorted Timbits — some of their most iconic items. However, José Cil did not confirm how much menu items would be increasing during the Tuesday conference call.

José Cil stated during the call that Tim Hortons tends to "price in line with CPI", and considering inflation has reached new highs in Canada, it comes as no surprise that their menu costs would soon reflect the current Consumer Price Index.

As for future plans for the company, Cil confirmed that they will continue their partnership with Justin Bieber and Timbiebs, considering it was "one of the more successful traffic-driving initiatives in recent memory."

This article's cover image was used for illustrative purposes only.