Your daily Double Double could get a bit more expensive this year after Restaurant Brands International Inc., Tim Hortons and Burger King’s parent company, could increase menu prices.
Due to ongoing supply chain issues and high food and labour costs experienced by the coffee chain, according to BNN Bloomberg, RBI saw a jump in “commodity volatility and elevated inflation” in the last quarter.
“Given the level of commodity costs and labour inflation we’re seeing, we expect additional price increases in 2022,” said RBI CEO Jose Cil to analysts, per BNN.
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However, increasing menu prices is based on many factors, like competitor pricing and shipping costs, according to RBI COO Duncan Fulton.
“It’s an ongoing process,” said Fulton in an interview with BNN. “We want to stay competitive for our guests and we want to be fair to the franchisees.”
RBI is also the parent company of Popeyes Louisiana Kitchen and Firehouse Subs.
According to the company’s full-year and fourth-quarter 2021 results, Cil shared that the company opened over 1,200 net new restaurants, which represents “the highest levels of restaurant growth at Tim Hortons and Popeyes in recent history.”
It’s hard enough that some customers had to go days without an Iced Capp, what more can we take?
Daily Hive has reached out to RBI for further comment.