Chipotle Will Raise Menu Prices Higher Than Expected

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Oh no, sofritos. Photo: Chipotle Mexican Grill

Earlier this month, Chipotle dropped the bomb that it's raising menu prices this summer for the first time since 2011, and it turns out that the quoted 3 to 5 percent hike (or by 25 to 40 cents per $8 burrito bowl) circulated at the time is actually a bit low: The company today said it's going to be more like 4 to 6 percent. Additionally, because the cost of beef has skyrocketed, the chain revealed plans to "widen" the half-dollar-ish gap between steak and chicken burritos, a move that will allow "customers to choose whether they want to pay the higher price," though it didn't specify what steak's new price is, exactly  in another showing of uncertainty, the company says it'll vary depending on where they live. [AP/NPR, Related]