Costs rise Chipotle Mexican (CMG.US) raises prices 2%

Chipotle Mexican (CMG.US) on Wednesday announced it would raise menu prices by about 2% to offset rising costs in a volatile environment for restaurants in the US. The rise in input costs led to menu price hikes by restaurants and fast-food chains in 2023, which dampened consumer demand. The rise in key ingredients such as dairy, beef, and avocados this year, amid consumers already reducing dining out and opting for cheaper at-home meals, put pressure on restaurant operators' profit margins.