Price hikes lifted PepsiCo’s profits in the third quarter, but the company says those increases are likely to moderate in the coming year.
Pepsi raised prices 11% in the July-September period, the seventh straight quarter that the Purchase, New York, company has increased prices by double-digits. The higher prices took a toll on demand, with sales volumes down 2.5%.
PepsiCo said some of that volume decline is strategic.
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