Chipotle attributes plans to bump up menu prices again to 'state of the economy,' a company spokesperson told Insider.
Chipotle fans take note: indulging in a taco or burrito at the fast-food restaurant could soon put a bigger dent in your wallet. That's because the Tex-Mex chain plans to bump up menu prices, the company confirmed to Insider Tuesday, marking its fourth price hike in two years. Chipotle is attributing the move to 'the state of the economy,' the publication reported.
In August 2022, Chipotle raised the prices of its entrees by more than $1 for some customers. That increase followed a previous increase earlier that same year. Before that, the company had also bumped up its prices in June 2021, a move it attributed to a hike in hourly wages for employees to $15 an hour. Chipotle hiked its prices again in December 2021 by 4%, bringing the cost of menu offerings that year up 10% higher than they were in 2020.
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