Chipotle Raises California Prices by 7% to Offset Wage Hike. CSO Blames Inflation, Not Price Hikes, for Consumer Pushback

Benzinga

Chipotle raised prices by 7% in California to cover new fast-food wage regulations, increasing the minimum wage to $20 per hour. Chief Strategy Officer Jack Hartung attributes consumer pushback to industry-wide inflation, not Chipotle’s specific price hikes. Chipotle has seen continued growth, beating Wall Street expectations with strong performance across income levels. Hartung teased Chipotle's use of AI, including the Autocado robot and automated bowl-making, while assuring it won't compromise customer service.

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00:00It's Benzinga, and here's what's on the block.

00:02Chipotle raised prices by 7% in California to cover new fast-food wage regulations, increasing

00:08the minimum wage to $20 per hour.

00:11Chief Strategy Officer Jack Hardung attributes consumer pushback to industry-wide inflation,

00:16not Chipotle-specific price hikes.

00:19Chipotle has seen continued growth, beating Wall Street expectations with strong performance

00:23across income levels.

00:25Hardung teased Chipotle's use of AI, including the AutoCADO robot and automated bowl-making,

00:31while assuring it won't compromise customer service.

00:34For all things money, visit Benzinga.com.

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