Chipotle menu price increases possible in the middle of 2013

Thu Jan 17, 2013 12:04pm EST

Jan 17 (Reuters) - Chipotle Mexican Grill Inc sees the possibility of menu price increases in the middle of this year to offset rising food costs, an executive at the popular burrito chain said at the ICR XChange investor conference on Thursday.

Late on Tuesday Chipotle forecast fourth-quarter profit below Wall Street expectations. It blamed a faster-than-expected rise in food costs during the latest quarter, when cost pressures squeezed profitability.

The company expects food price inflation to level off in 2013, the company said on Tuesday.