Restaurant owners raised menu prices by as much as 4 percent in May
It’s not your imagination: Your chicken burrito at Chipotle went up in price by as much as 4 percent in recent weeks. The fast-casual chain raised menu prices in May, citing higher food and labor costs. It’s certainly not the only restaurant passing along cost increases to consumers. Across the country, both national chains and independent restaurants have increased menu prices by similar percentages last month. The menu price hikes are coming at a much faster pace than historical rates, reports Bloomberg. Even as food costs stabilize, higher prices might not abate any time soon because higher wages for restaurant workers—and labor shortages—will probably persist even after supply bottlenecks are smoothed out. So it’s safe to assume your chicken burrito won’t be cheaper in the near future.