Popular fast food chains like McDonald’s and Chipotle Mexican Grill will be implementing new price hikes next year in an attempt to offset California’s newly passed $20 minimum wage for fast food workers.
Chipotle CFO Jack Hartung said it’s considering raising prices by a “mid-to-high single-digit” percentage, though a “final decision” has yet to be made.
McDonald’s CEO Chris Kempczinski said the chain hasn’t decided how much it will hike its price by yet.
According to the U.S. Bureau of Labor Statistics, U.S. fast food prices have already risen 6% nationwide since last September alone.
