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Chipotle likely to increase menu prices midyear

Chief financial officer Jack Hartung said commodity inflation hit “harder and faster than expected.”

Chipotle Mexican Grill Inc. indicated during an earnings call on Tuesday that it would likely increase menu prices midyear to offset rising commodity costs.

After reporting a 6.8-percent increase in profits for the fourth quarter ended Dec. 31, Jack Hartung, Chipotle’s chief financial officer, said commodity inflation hit “harder and faster than expected.”

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