Chipotle hikes prices in NYC by 5%

|About: Chipotle Mexican Grill, Inc. (CMG)|By:, SA News Editor

Chipotle (CMG +1.6%) increased prices at 58 restaurants in New York City by about 5%, according to spokesman Chris Arnold.

"In addition to the 442 restaurants that saw a similar price increase in April, that brings to 500 the number of restaurants where we have increased prices (out of more than 2,300)," updates Arnold.

The move by Chipotle coincides with increases in labor costs and higher avocado expenses.

Source: Bloomberg

Previously: Avocado prices continue to track higher (May 8)