Is Chipotle raising its menu prices?
THE prices are going up at Chipotle, the popular fast-food restaurant chain that has eateries in the US and across the globe. Chipotle specializes in tacos and burritos that are crafted in front of the customer. Chipotle is raising prices about four percent to compensate for the cost of improving wages for its workers, according to CNBC. Business is better for Chipotle and other restaurant chains, and they need a way to lure workers back, according to the outlet. Chipotle said in May of 2021 that it would raise hourly wages to $15 an hour by the end of June, CNBC reported. As a result, prices are being raised as well. It feels like the right thing, at the right time, and it feels like the industry is now going to have to either do something similar or play some kind of catch-up, CFO Jack Hartung said at a virtual conference. Otherwise youll just lose the staffing gain.  Most read in Money SHOW ME THE MONEY New $3,600 stimulus payments will be sent out starting next month STIMULUS SCARE You could be threatened with JAIL for not spending stimulus check on rent CHECK PLEASE Boost for fourth stimulus check as Biden happy to hear ideas for more cash CHECK YOUR MAIL Child tax credits will hit accounts NEXT MONTH as IRS alerts families SHOW ME THE MONEY Fourth stimulus checks could be deposited automatically STIM WIN Another stimulus check could be on the way this summer for millions of Americans  Added Chipotle CEO Brian Niccol: "It made sense in this scenario to invest in our employees and get these restaurants staffed and make sure that we have the pipeline of people to support our growth. "And then with that, we've taken some pricing to cover some of that investment." A Chipotle steak burrito that costs $8.85 will now have a price of $9.20, according to Nation's Restaurant News.