Restaurant prices are rising across the U.S. as inflation edges up
CBSN
Eating out is taking a bigger bite out of American wallets, with small restaurants and national chains alike passing along the rising costs of basic commodities and labor.
Chipotle Mexican Grill recently boosted prices of as much as 4% across its menu to help offset higher labor and other costs, a spokesperson confirmed to CBS MoneyWatch. The chain last month hiked its average hourly pay to $15 for its 100,000 workers in 2,800 restaurants. "There are some inflation pressures that we're all feeling, the whole industry is feeling, even outside our industry is feeling — right now it's on labor," Chipotle Chief Financial Officer Jack Hartung told participants in a conference call this month hosted by investment Baird. "If you lose the staffing game in this business, it's not going to end well."
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