1. This popular fast-casual Mexican chain is quietly raising prices
Chipotle is raising the average wages for its employees to $15 an hour, but the customers will be the ones paying the difference. According to recent reports, Chipotle is raising its prices by 4% across the whole menu in order to make up for the higher employee salaries. This translates to about 30 to 40 cents more for an average Chipotle meal.
The move was confirmed by Chipotle executives at the Baird Global Consumer, Technology & Services Conference on June 15. CFO Jack Hartung acknowledged the industry is dealing with labor shortages and increases in ingredient prices, but the menu price increase will only reflect the latter.
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