Chipotle is raising US prices after promising bigger portions

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, Laurie Schalow, confirmed Friday that the Mexican restaurant chain was implementing a 2% price increase nationally. Schalow said it's the first time the California-based company has raised its prices 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.

Truist, which raised its price target for Chipotle’s shares, also reported that customer traffic at the chain's restaurants accelerated in November.