NRN.com - Chipotle Mexican Grill is planning a menu price increase in the mid-single-digit range for this year to help address rising food costs for key ingredients like beef, cheese and avocados.

To be rolled out by early in the third quarter, the price hike would be Chipotle’s first in nearly three years to impact the domestic system.

In a call Thursday with Wall Street analysts following the release of first-quarter results, Jack Hartung, Chipotle’s chief financial officer, said the Denver-based chain has plenty of pricing power, but the goal is to ensure the menu remains accessible to guests in what continues to be an uneven economic recovery. Continue