Your Chipotle burrito lunch is about to take a bit more of a bite out of your wallet.Chipotle has announced that, starting in June, it will be raising its prices by an as-yet undetermined amount (probably in the mid-single digit percentage range) to offset the rising cost of raw ingredients and suppliers like steak, avocado, and certain cheeses. An estimated five percent increase would raise the cost of a chicken burrito in New York from $7.81 to $8.20.
Besides the recent price increase, Check Out The 10 Things You Didn't Know About Chipotle (Slideshow)
“Food costs are way up,” said Chris Arnold, director of communications at Chipotle. “We have held the line on raising prices for three years (with no increases) but we have to account for the higher food costs. Even with the increase, our prices will remain competitive with others in spite of our using better quality ingredients than others do."
Joanna Fantozzi is an Associate Editor with The Daily Meal. Follow her on Twitter @JoannaFantozzi