Chipotle raised prices by 7% in California to cover new fast-food wage regulations, increasing the minimum wage to $20 per hour. Chief Strategy Officer Jack Hartung attributes consumer pushback to industry-wide inflation, not Chipotle’s specific price hikes. Chipotle has seen continued growth, beating Wall Street expectations with strong performance across income levels. Hartung teased Chipotle's use of AI, including the Autocado robot and automated bowl-making, while assuring it won't compromise customer service.
