Your favorite Chipotle meal could soon cost more money.
The restaurant company plans to raise menu prices to offset inflation, but it’s unclear what or how many menu items will get a price bump. The restaurant also didn’t announce when the price hike will be implemented.
“For the first time in over a year, we will be taking a modest price increase to offset inflation,” Laurie Schalow, chief corporate affairs officer at Chipotle, said in a statement provided to KTLA.
Chipotle has increased prices four times in the past two years, according to Insider, who first reported the news.
The latest inflation report from the US Bureau of Labor Statistics showed that the Consumer Price Index rose 3.7% for the 12 months that ended in September. On a monthly basis, prices grew 0.4%, according to the report.
Chipotle last announced a price hike in July 2022, which meant that some customers would pay more than $1 more for entrees by August of the same year, Insider reported.
Chipotle isn’t the only company planning to increase prices; other restaurants like Shake Shack have also implemented price increases.
Costco has also announced it will increase the cost of its annual membership in the near future.