Holy Guacamole! Popular fast-food chain to raise prices
Grocery shoppers aren’t the only ones seeing a surge in food prices.
A popular fast-food chain is feeling the pinch, too, and plans to pass along some of its increased costs to customers soon for the first time in three years.
Chipotle announced on its first quarter earnings call Thursday that prices for all its menu items will go up for the first time in three years.
The price increases will go into effect over the next three to six months.
Customers will see the increases this quarter when the company begins rolling out new menus.
It its last report, Chipotle blamed a drop in margins in part to higher food costs for beer, avocados and cheese.
Chipotle expects to open 180 to 195 restaurants this year.