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PepsiCo Will Raise Prices to Offset Higher Costs, CFO Says

PepsiCo Products Ahead Of Earnings Released
Photographer: Luke Sharrett/Bloomberg

PepsiCo Inc. Chief Financial Officer Hugh Johnston said that higher prices will be the “No. 1” tool the beverage and snack maker will use to offset higher commodity, transportation and supply chain costs. 

Speaking in an interview, Johnston said PepsiCo will also change the mix of products it sells in a bid to nudge shoppers toward more profitable items -- like variety packs of Lay’s chips instead of larger bags.