PepsiCo to hike prices on Doritos, sodas -- reversing recent effort to save consumers money
PepsiCo is raising prices on several snack and beverage brands following a disappointing third-quarter performance. The company is reversing a previous strategy of price cuts intended to attract inflation-weary consumers as it faces rising input costs and increased competition.
Why it matters
This shift highlights the ongoing struggle major consumer goods companies face in balancing profitability with consumer demand amid inflationary pressures.
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Make New York Post a Preferred Source PepsiCo said Thursday it’s raising prices on some chips and drinks after a disappointing third quarter — pivoting from a recent effort to save consumers money — due to soft soda sales and struggles pulling off its turnaround plan.
Doritos, Ruffles, SunChips and some soda brands will see prices jump in the single-digit percentage range, the company said. Prices on these items will still be lower than they were at the start of the year.
Pepsi said it needs to raise some prices to offset rising costs for fuel, aluminum and agricultural supplies, which have skyrocketed due to the Iran war and tariffs.
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