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Home / Business / Coca-Cola raises prices for soda; CEO says consumers are likely to feel impact

Coca-Cola raises prices for soda; CEO says consumers are likely to feel impact



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Coca-Cola Company CEO James Quincey said Wednesday that the company would increase its carbonated offer prices due to rising freight rates and metal tariffs, the Wall Street Journal reported.

Quincy also said he expects the move would result in bottlers and retailers charging customers more to make up for the increased costs.

The change will someday be "in the middle of the year," according to the journal.

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In recent months, President Trump has ordered tariffs for exports to the United States; The Wall Street Journal specifically called tariffs on metal exports from China as one of the reasons for Coca-Cola to raise prices. Quincey said there were other factors, but not worked out.

"There are some broad-based push-up input costs that come somehow and also affect our and many other industries," Quincey told the Journal. [19659005] BALTIMORE RESTAURANTS PROHIBITED BY SODA ON KIDS MENUS

Among these other industries, those who brew craft beer have also expressed concerns about aluminum tariffs, which force them to raise prices.

Customs alone could cost the industry $ 347.7 million and lead to the loss of more than 20,000 jobs nationwide, "Jim McGreevy, President of the Washington DC-based Beer Institute, said in a previous statement to Fox News. McGreevy also said he also believed that the costs would eventually be passed on to the consumer.

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News of Coca-Cola's rising prices Coca-Cola's reports topped estimates for the quarter, mainly due to the rising demand for its diet and zero-sugar offerings.


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