Coca-Cola CEO says inflation is moderating in most markets after higher prices boost revenue
Publishing timestamp: 2024-02-13 12:07:21
Summary
Coca-Cola CEO James Quincey stated that inflation is moderating in most markets globally, with some exceptions like Argentina. The majority of Coke's markets have seen a 3.5% increase in prices compared to the previous year, which is similar to pre-Covid levels. The company reported higher prices in the fourth quarter, helping it beat Wall Street's estimates for sales. However, price hikes have slowed down compared to the previous two years. Quincey also mentioned that consumers in the US have diverged in their purchasing behavior based on disposable income. Coke's North American volume shrank 1% in the quarter.
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Keywords: argentina, ceo, business news, coca-cola co, breaking news: business, food and drink, retail industry, business, earnings, united states, restaurants, james quincey,