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]