Much like everything else during inflation, it looks like Chipotle’s prices are rising, and fans of the Mexican food-inspired eatery are not holding their tongues when it comes to expressing how they feel about the changes.
According to a new report, it’ll cost lovers of the food chain a bit more than before to get their hands on their favorite burrito or bowl, and social media users are calling the move “corporate greed.”
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In a new video shared by the Today show via Instagram on Friday, Dec. 6, anchor Hoda Kotb delivered the not-so-sweet pricing update as part of a segment that aired on the popular broadcast.
“Some bad news this morning for Chipotle customers,” she opened in the clip. “The burrito chain announced Wednesday that it has raised prices by about 2%. The company says inflation is to blame.”
Kotb—who revealed in September that she’ll be stepping away from her position on the TV program in early 2025—continued to provide more insight regarding the reasoning behind the eatery’s decision.
“Key ingredients, such as dairy, beef and avocado, have been more expensive this year, impacting the margins for restaurant operators nationwide,” the longtime reporter explained.
The chain’s chief corporate affairs officer, Laurie Schalow, confirmed the new development, noting that the implementation of a 2% price increase nationally is the first time the California-based company has raised its prices in more than a year, according to Los Angeles news station KTLA5.
In the comments section of the social media upload, fans of the Mexican-inspired food joint showed extreme disappointment, with many making assumptions about the real reason for the price hike.
“They need to stop using inflation as an excuse when we all know it’s corporate greed,” one inferred, while another chalked it up to executives requesting higher salaries: “The CEO needs a raise.”
“We spent $40 they other day and we were shocked. Never going again,” a third lamented.
Meanwhile, someone else pointed out, “The annual gross profit for 2023 was $2.5 billion but they want to raise prices?”
Despite the imminent cost increase, the company has promised to also increase portion sizes for its customers. In addition to ingredients costing more to offer, it also cited that raising prices will ensure it can provide “consistent and generous portions” to its patrons after receiving complaints via social media that portions were getting smaller and smaller, KTLA5 added.
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