Ideally, this is the moment where competitors should appear and try to steal some of Chipotle’s market share through undercutting their pricing, which would force Chipotle to either lower their prices back to something in line with their cost of business and a more modest margin. We’ll see.
EDIT: they’re increasing the price by 4%. A $7.50 burrito will then cost $7.80 after the price increase. The starting wage right now at Chipotle is $11/hr (in areas where the the minimum wage is lower or at that level). If raising $11/hr to $15/hr causes the menu prices to increase 4%, then I think we should send a message to Chipotle that we value people over profit, and increasing the wage to $19/hr or $23 or $25 per hour would likewise cause a price increase of 8-12/14%. A burrito price would increase to roughly $8.55 over the $7.50, and I would eat at Chipotle every goddamn day knowing the employees are seeing a windfall not seen in this country in DECADES.