Food brand profits soar on price increases
November 1, 2022
Food manufacturers have hiked their prices as the cost of fuel and ingredients has gone up. PepsiCo reported a profit of more than 20 percent after raising prices by 17 percent. Coca-Cola’s profits were up 14 percent year-over-year as it too took prices up. The price of food eaten at home has jumped 13 percent over the last year, according to the Bureau of Labor Statistics.
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