Heard on the Call: Chipotle Mexican Grill

Chain holding off on price increases despite higher food costs

Chipotle Mexican Grill Inc. executives said freezing weather in Florida and Mexico may result in shortages of key ingredients or skyrocketing food costs, but the chain will hold off on raising prices until later in the year.

In a call to analysts Thursday, Chipotle officials said food costs jumped 31 percent during the fourth quarter and are expected to continue to climb, largely because of rising costs of beef, cheese and avocados.

Despite higher food costs, Chipotle

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