06:44 AM EST, 12/05/2024 (MT Newswires) -- Chipotle Mexican Grill ( CMG ) is raising prices by about 2% to meet higher costs for food ingredients, multiple news outlets reported late Wednesday, citing a statement from the company.

"For the first time in over a year, we have taken a modest price increase of approximately 2% nationally to offset inflation," Laurie Schalow, Chipotle's corporate affairs chief, was quoted as saying by these reports.

Chipotle did not immediately reply to MT Newswires' request for comment.