Chipotle’s burritos, not an Affordable Luxury item… just wait for a few more price increases
While we love noshing on a Chipotle burrito, the company has boosted prices at more than 20 percent of its locations. With an average burrito price around $8-$9, it’s a modest increase to one’s wallet that may not have a dramatic impact on the Cash-strapped Consumer. It certainly doesn’t mean Chipotle’s burritos are now an Affordable Luxury, but a few more price increases to contend with rising minimum wages and it very well could be.
People are already paying more for their burritos since Chipotle has raised its prices in hundreds of restaurants.The changes took effect in approximately 440 Chipotle locations, which accounts for about 20% of their restaurants, Chipotle spokesperson Chris Arnold said.
The chain has over 2,200 locations altogether.”We had already been on record saying that we were considering raising prices in select markets, and now we have implemented that increase,” Arnold said.
Arnold said prices increased by about 5% in those restaurants and that the increase will help “offset wage and food inflation.”
Source: Chipotle: Price Increase Hits Hundreds of Restaurants | Fortune.com
