Coca-Cola has issued a warning to its customers about an impending price rise on its products. The giant has announced a 12% hike in average selling prices. The increases were imposed at the end of last year, and the corporation warned there will be price rises across the world in 2023.

Inflation is anticipated to lessen as we go through the year, and therefore we expect the rate at which prices are going to climb will start to moderate and become more normal by the end of the year.

Customers in Europe saw their costs rise by 15% in the last quarter compared to the previous year. Although 2022 brought numerous challenges, we are proud of our overall accomplishments in a complex operating environment,” stated Coca-Cola CEO James Quincey. It appears like the European economy will avoid a technical recession, but consumer demand is definitely declining, and I believe that this will continue into the year.

The CEO was speaking to investors during a trading update as the company disclosed a 4 to 5% increase in adjusted earnings per share. This exceeded the average analyst forecast of a 2.96 percent increase. Although Coca-revenue Cola’s increased by 7% to $10.1 billion in the fourth quarter of 2022.

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