Chipotle raises prices to cover higher wages

The cost of doing business is being passed on to the customers of Chipotle.

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The Mexican grill is among businesses like Starbucks and McDonald’s that are raising wages to get new workers and to keep current staffing, NBC News reported.

Chipotle announced last month that it would be raising wages to an average of $15 an hour by the end of this month. Now company executives announced during the Baird Global Consumer, Technology & Services Conference that the cost of higher wages will mean an increase in prices at the register.

Customers can expect to pay between 3.5% and 4% more, CNN reported.

The company is also offering a $200 employee referral bonus, CNN reported.

Chipotle plans to hire 20,000 new employees, Reuters reported.

The price hike is also coming when supply costs are increasing, but Chipotle said it isn’t planning on raising the cost of its food for now.

“Ingredient costs, there’s talk about it. We’ll see where that leads,” Chipotle CFO Jack Hartung said, according to NBC News.

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