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PepsiCo CFO on inflation raising prices

PepsiCo CFO Hugh Johnston speaks on inflation and details the effects it’s having on consumer pricing across the companies’ brands. The segment took place on July 12, 2022.

Video Transcript

HUGH JONSTON: We passed along about 12 points of pricing. In aggregate volumes, we're up in the low to mid single digits. So we obviously feel like the pricing, while certainly something that we never like to do at these levels, consumers are staying with us.

Now, the reason for that, I think, more than anything is, whenever we're facing inflation, the first thing we do is look at our own internal costs and say, let's make sure that we're tightening our belts as much as we can internally, whether it's spending in our offices, or in our plants, or in our distribution system. That leaves us with a balance. And that balance of inflation, we tend to price through. But our pricing is actually less than the inflationary cost that we're facing in commodities and in other areas of our expenses.