Consumer
Coca-Cola Raises Outlook as Prices and Volumes Rise Abroad
- Inflation drove prices up in regions such as Africa, Europe
- Water, sports drinks, coffee and tea declined in North America
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Coca-Cola Co. issued a more optimistic 2024 forecast after first-quarter results outpaced Wall Street’s expectations as customers in markets around the world continue to pay higher prices and drive volume growth.
The increase in prices that consumers paid for Coca-Cola’s products was largely attributable to high inflationary markets in Latin America and Europe, the Middle East and Africa. In those regions, the average price that consumers paid across a mix of products rose by 22%, compared to an increase of 7% in North America.