Coca-Cola CEO James Quincey is citing the pandemic as the reason the company is about to increase prices on all of their goods.
They will raise prices on their drinks next year to offset the cost of packaging its products during the pandemic.
Quincy made the announcement on Monday on CNBC. He didn’t go into details about how big the prices raises would be, or which products would be affected.
“We are well-hedged in ’21, but there’s pressure built up for ’22, and so there will have to be some price increases,” he said. “We intend to manage those intelligently, thinking through the way we use package sizes and really optimize the price points for consumers.”
The announced increase in prices follows the companies public opposition to a recently passed Georgia election law, which was made to secure the state’s voting system. Liberals and corporations claim it’s to restrict voting, particularly among young minorities. It’s somehow racist to have an ID to vote, but you need an ID to fly on a plane, buy alcohol, buy cigarets, or anything else for that matter. This is just Democrat ran companies trying to use their weight to bully and control the side of the country that doesn’t agree with them.
According to earnings reports acquired by CNBC, Coca-Cola said that their sales rose to pre-March 2019 levels, reporting a revenue of $9.02 billion as opposed to the expected $8.6 billion. This is the first time the company has had a price increase since 2018, and tried to blame then President Trump’s tariffs on aluminum as the cause.
Thanks to our friends at Just the News for contributing to this article.