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Chipotle In San Francisco Will Be Much More Expensive | The Daily Caller

In an apparent response to San Francisco raising its minimum wage to a new national high, local Chipotles have raised prices just as dramatically.

“We believe the outsized San Francisco price hike was likely because of increased minimum wages,” an investors report, obtained by the American Enterprise Institute, detailed. The report was issued to investors by the global investment banking and wealth management firm William Blair.

Back in November, residents of the city voted to increase the minimum wage gradually to $15 an hour over the course of three years. Though the wage increase was designed to help address income inequality, some businesses have reported that they are already struggling to stay open.

“In most markets, the price increases have been limited to beef and average about 4% on barbacoa and steak,” a report continued. “San Francisco, however, saw across-the-board price increases averaging over 10%, including 10% increases on chicken, carnitas (pork), sofritas (tofu), and vegetarian entrees along with a 14% increase on steak and barbacoa.”

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Chipotle In San Francisco Will Be Much More Expensive | The Daily Caller.