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Chipotle raises menu prices in response to worth rise, corporation says


FOOD
Chipotle Mexican Grill

Chipotle raises menu prices in response to worth rise, corporation says

Portrait of Gabe Hauari Gabe Hauari

USA TODAY

If your Chipotle order seems like it has gotten slightly more expensive, it is not your imagination.

The quick casual Mexican chain said it has raised its menu prices by 2% as it deals with the impact of worth rise.

“For the first period in over a year, we have taken a modest worth boost of approximately 2% nationally to offset worth rise.” said Laurie Schalow, Chief Corporate Affairs Officer at Chipotle, in a statement obtained by USA TODAY Thursday.

Chipotle said in its third quarter returns call in October that food, beverage and packaging costs in the third quarter of 2024 were 30.6% of total turnover, an boost from 29.7% in the third quarter of 2023.

The corporation said the boost was due to worth rise across “several ingredient costs,” primarily avocados and dairy, higher usage of ingredients as the corporation concentrated on “ensuring consistent and charitable portions,” and a protein mix shift from the achievement of its smoked brisket limited period propose.

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The shift comes after Chipotle missed economy expectations for same-store sales growth in an returns update released in October, Reuters reported. The corporation is also in the first few months after former CEO Brian Niccol left for Starbucks.

According to the U.S. Department of Agriculture, wholesale poultry prices were 4.5% lower in October of this year compared to October 2023, and those prices are predicted to reduce 0.6% on the net this year.

Prices for beef, however, were 1.9% higher in October 2024 than October 2023 and are predicted to boost faster than most meat categories due to “tight supplies and continued demand.”

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Gabe Hauari is a national trending information reporter at USA TODAY. You can pursue him on X @GabeHauari or email him at [email protected].

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