Don’t Expect Big Consumer Brands to Lower Prices Soon
Coca-Cola, Unilever and Kimberly-Clark say price increases helped them cover cost inflation, but they are watching how consumers respond
Consumers looking for relief from higher prices might have to wait a while.
The makers of Coca-Cola beverages, Dove shampoo, Huggies diapers and Big Macs have been raising prices as their costs increase on everything from wood pulp to wages.
The executives behind these global brands on Tuesday said they would keep passing along those costs to shoppers, for now. Consumers are continuing to buy even as inflation takes a toll on households, these executives said.
Coca-Cola raises revenue forecast as soda demand defies price hikes
(Reuters) - Coca-Cola Co lifted its full-year revenue forecast on Tuesday, encouraged by buoyant demand for sugary sodas in the face of price increases to combat higher costs.
The Dow component’s shares were up 2.2% in early trading, while the broader market was down after top U.S. retailer Walmart Inc cut its full-year profit expectations on a slowdown in discretionary spending.