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Report: Coca-Cola will raise prices this summer

By Associated Press

POSTED:
LAST UPDATED: 10:36 a.m. HST, Jun 25, 2011


NEW YORK >> That soda on a summer afternoon is about to get more expensive: Coca-Cola Co.'s two big bottlers both plan to raise prices starting next month.

The trade publication Beverage Digest first reported the news, citing letters that the bottlers sent to retail customers. Both blame the rising costs of materials like aluminum, plastic, corn and oil, which they need to make and transport products.

Coca-Cola Refreshments said it would raise prices by 3 to 4 percent on July 31; Coca-Cola Consolidated said it would raise prices 3 to 5 percent in early July.

Coca-Cola confirmed the price hikes.

Prices for Pepsi, as well as gasoline and a multitude of other products, are also on the rise as companies face higher costs for materials and ingredients.

 







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