Pepsi will be cutting the prices of some snack food products as consumers grapple with rising costs.
PepsiCo announced on Tuesday that its quarterly earnings and revenue were higher than anticipated, CNBC reported.
However, despite having higher income, the company said that sales of chips and other snacks have been sluggish, so it will be lowering prices on some items to “improve competitiveness and the purchase frequency of our brands.”
The New York Times said the average price of PepsiCo.’s snacks went up about 4% last year, about the same as in 2024, but lower than the double-digit percentage increases in 2022 and 2023.
NPR reported that prices will be cut “up to nearly 15%.”
Some of the products that may see lower prices include Lay’s, Tostitos, Doritos and Cheetos.
Other changes are already in the works, including simpler ingredients and new packaging for brands such as Gatorade, Quaker and others.
The company has removed artificial flavors and dyes in its Simply NKD versions of Cheetos and Doritos and will do a similar move with Gatorade, the Times reported.
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