Chipotle Has Eerie News About A Looming Price Hike

In the past year, inflation has reached unforeseen levels that have only added insult to injury, as the world continues to climb out of the COVID-19 pandemic. As a result, plenty of restaurants have had no choice but to increase prices in order to keep up with the rising cost of ingredients. Grocery store prices have fared similarly, with household ingredients also getting more expensive. Plus, when coupled with supply chain issues, grocery stores like Publix have even put limits on certain items.

Back in April, Nation's Restaurant News reported that Chipotle had increased its prices by 4% to combat inflated food costs, which had risen by as much as 13% (though the outlet later reported that Chipotle raised its prices by more than 10%, not 4%). Despite the price increase, Chipotle reported increased in-store sales through the first quarter of 2022. Now, more unfortunate news is coming to customers around their favorite meals from the fast-casual Mexican chain.

Now that Chipotle's second-quarter numbers are in, customers aren't going to love what the company has to say: it's raising prices by another 4% in August (per Nation's Restaurant News). Still, the chain admitted that its sales continued to climb in the last quarter to the tune of 10.1%, with revenues increasing by 17%. 

And while the first 2022 price hike in April didn't impact sales, some consumers took to Reddit to express their frustration with the decision. One user suggested the company was using the pandemic to profit. "Corporations are using the media narratives to jack prices up beyond all reason and are laughing all the way to the bank with their record profits and C-suite bonuses," someone else added. However, another user suggested they didn't care too much about the increases. 

Chipotle has made several price hikes since 2021, so it remains to be seen whether another increase will come after August's prices are implemented — and if customers respond negatively.