Chipotle Raises Prices, Cites Higher Costs

That Chipotle burrito is about to cost you a few extra coins in many cities.

Chipotle Mexican Grill says it is going to raise its prices by 5% in many markets around the country, it's first price increase in three years.

The boost will add about 25 cents or 35 cents to a typical entree, says spokesman Chris Arnold. The increase will happen in 440 of Chipotle's more than 2,200 restaurants.

"Our pricing has always been done on a market-by-market basis, as the cost of doing business varies by market. So we tend to evaluate pricing in that fashion," said spokesman Chris Arnold.

He said prices are going up to pay for higher food and labor costs.

"Even with the new prices, our pricing remains very competitive across the category, particularly if you factor in our ingredient quality," Arnold says.

It also shows that Chipotle is now confident enough in its comeback from its E. Coli outbreak crisis in 2015.

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