4/19, 7:36 PM (Source: TeleTrader)
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Coca-Cola to raise drink prices, first since 2018

Coca-Cola chief executive officer James Quincey said in an interview with CNBC that prices on the company's beverages will increase this year to compensate for higher commodity costs. The last price increase was introduced by the company in 2018 as a response to aluminium tariffs impact under former President Donald Trump's administration.

In this decision, Coco-Cola joins other consumer giants, such as Kimberly-Clark and J.M. Smucker. "We intend to manage those [price increases] intelligently, thinking through the way we use package sizes and really optimize the price points for consumers," Quincey said.

The company traded with gains on Monday after releasing a strong financial report with figure growth beating estimates. The stock prices grew by 0.56% at 1:33 pm ET to sell for $53.96 per share.

Breaking the News / LH