Chipotle prices could be going up sometime this year, Lisa Baertlein at Reuters reports.”We’re looking at possibly raising prices during the middle of 2013,” Chipotle CFO John Hartung said at the ICR XChange investor conference this week.
Food costs are rising, the company said. Chipotle cited meat and dairy as the culprits. It expects food price inflation to level off this year.
Chipotle happens to be particularly vulnerable to big changes in food costs because it often can’t lock in prices for antibiotic-free meats and organic ingredients, according to Reuters.
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