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Chipotle Says Your Steak Burrito May Get Even More Expensive

  • Niccol says there’s no sign that inflation is slowing down
  • Shares jump the most since July following earnings report
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Smoked Brisket Helps Chipotle Beat Earnings Estimates

Chipotle Mexican Grill Inc. Chief Executive Officer Brian Niccol said he’s not seeing any signs that inflation is slowing down, specifically highlighting higher beef costs.

Chipotle, which last year added smoked beef brisket to its menu as a limited-time item, has already raised prices, but more increases may be on the table as expenses rise. Beef and freight have been the two largest pressures for the company, Niccol said in an interview after the company reported earnings.