10:27 AM EST, 12/05/2024 (MT Newswires) -- (Updates with company statement in the second paragraph.)

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 company statement.

In response to a query from MT Newswires, the fast food chain's Chief Corporate Affairs Officer Laurie Schalow said the company "for the first time in over a year," implemented "a modest price increase of approximately 2% nationally to offset inflation."

Shares were edging 0.3% higher in recent trading.

Price: 63.85, Change: -0.05, Percent Change: -0.07