Chipotle is raising prices after promising bigger portions

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Chipotle is raising its U.S. prices to offset inflation and to compensate for a promise to increase portion sizes.

Chipotle’s chief corporate affairs officer confirmed that the Mexican restaurant chain was implementing a 2% price increase nationally. She says it's the company's first such increase in more than a year.

Chipotle revealed the price increase after an analyst report released earlier this week by investment bank Truist Securities noted a 2% price increase at approximately 20% of the chain’s 3,500 U.S. stores.

Chipotle said in October that its food, beverage and packaging costs all increased in the third quarter. Chipotle also cited the cost of ensuring “consistent and generous portions."