Coca-Cola doesn't expect more price increases in North America and Western Europe in 2023, but plans more price hikes in emerging markets.NEW YORK - Coca-Cola lifted its full-year earnings targets after second-quarter results topped estimates as it described plans to limit additional price hikes to emerging markets with the most intense inflation.
While volumes were flat, revenues were bolstered by a 10 percent jump in Coca-Cola's"price/mix" benchmark, reflecting retail price increases as well as the composition of sales by venue and pack mix. In contrast, in many emerging markets"consumers are more accustomed to persistent inflation," Quincey said on a conference call, noting that five of the soda giant's top 40 markets have inflation above 20 percent.
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