A customer pays for their food at a Chipotle Mexican Grill restaurant on April 26, 2023 in Austin, Texas.
Minimum wages for California fast-food workers will increase to $20 an hour in April.
  • Chipotle customers in California should brace themselves for higher menu prices this year.
  • Chipotle's CFO said it needed "significant" price increases to offset a new wage law.
  • The law will put fast-food workers' wages up to $20 an hour from April.

Chipotle's Californian customers should expect a "significant" price increase to make up for the state's new wage law for fast-food workers, executives at the burrito chain warned on Tuesday.

"We know we have to take something as a significant increase when you talk about a 20%-ish increase in wages," Jack Hartung, Chipotle's chief financial and administrative officer, told investors during its fourth-quarter earnings call.