Chipotle Will Raise Menu Prices By About 4% To Cover Recent Wage Increase


US-ECONOMY-RETAIL-FOOD

Photo: AFP

Get ready to pay a few cents more for your favorite Chipotle menu item.

Chipotle executive Brian Niccol announced Tuesday that the fast-casual Mexican Grill has raised their prices by about 4% to cover a recent wage increase for its employees.

Basically, a customer with a $10 order would pay an additional 40 cents for their food with the 4% increase.

According to Niccol, the company would have preferred not to raise prices but "it made sense in this scenario to invest in our employees and get these restaurants staffed, and make sure we had the pipeline of people to support our growth.”

Back in May, Chipotle said it would be increasing restaurant workers' wages to an average of $15 an hour.

The popular food chain also plans to hire 20,000 workers this summer.