How much of this is also price correction, and not just the wage increase? I just paid $6.85 for a chipotle burrito, which according to BLS is equivalent to $4.16 when Chipotle was founded.
Admittedly, it's a little problematic to expect companies to keep up with inflation, when inflation numbers are based on the prices they set, but at least some of the price increase is building in other factors, since customers seem to prefer occassional, larger increase rather than frequent small increases.
How much of this is also price correction, and not just the wage increase? I just paid $6.85 for a chipotle burrito, which according to BLS is equivalent to $4.16 when Chipotle was founded.
Admittedly, it's a little problematic to expect companies to keep up with inflation, when inflation numbers are based on the prices they set, but at least some of the price increase is building in other factors, since customers seem to prefer occassional, larger increase rather than frequent small increases.