CINCINNATI (WKRC) — Chipotle Mexican Grill has introduced a nationwide menu value enhance of roughly 2% to fight rising inflation, marking the primary such hike in over a 12 months. Laurie Schalow, Chipotle’s chief company affairs officer, stated Wednesday that the rise is meant to offset inflationary pressures affecting the fast-casual chain’s working prices.
The resolution follows a earlier value adjustment in California, the place Chipotle raised costs by about 7% in April. This transfer, per Restaurant Business, was in response to the Fast Food Wage Act, which elevated the minimal wage for limited-service employees to $20 per hour within the state.
Despite holding off on extra value hikes earlier this 12 months, Chipotle has confronted challenges comparable to rising prices for key elements like avocados and dairy. The firm additionally handled public criticism over portion sizes, which led to retraining workers to make sure extra beneficiant servings.
CFO Adam Rymer hinted throughout an October earnings name {that a} value enhance of two% to three% is perhaps needed, regardless of the chain just lately rolling again a 3% value hike from the earlier 12 months.
