McDonald’s and Chipotle are raising prices in California following Governor Gavin Newsom’s approval of a fast-food worker wage increase.
Earlier this week, McDonald’s CEO Chris Kempczinski announced the price hike, but the exact increased costs for food across the state remain unspecified.
Chipotle, following McDonald’s lead, plans to increase prices after Governor Newsom approved a minimum wage hike for fast-food workers from $16.21 to $20 an hour.
Jack Hartung, Chipotle’s chief financial officer, said last week that the chain will likely raise prices by a “mid-to-high single-digit” percentage.
In April 2024, California’s estimated 500,000 fast food workers will be paid a minimum of $20 per hour — up from the previous minimum wage of $16.21.
The new law could lead other popular eateries to follow McDonald’s and Chipotle in raising prices.
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