Chipotle had paused price hikes for more than a year after three rounds of raising menu prices in 13 months.
Mark Makela | ReutersThe burrito chain had paused price hikes for more than a year after three rounds of raising menu prices in 13 months.
Inflation has cooled, but prices for many goods and services are still rising, just at a slower rate."For the first time in over a year, we will be taking a modest price increase to offset inflation," Chipotle Chief Corporate Affairs Officer Laurie Schalow said in a statement to CNBC.Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyAfter peaking last June, inflation has cooled.
But Chipotle paused its price hikes as some customers pulled back on restaurant spending and ingredient costs stabilized. In , CEO Brian Niccol said the chain had demonstrated its pricing power but would hold off on raising prices any more. At that time, its prices were up roughly 10% compared with the year-ago period.
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