WASHINGTON, DC — Today, beverage giant PepsiCo. announced $3.08 billion in Q2 earnings, beating earning estimates as the latest Consumer Price Index (CPI) report shows corporate profiteering in the big food industry remains a major driver of costs even as inflation has cooled for the fourth consecutive month. After a series of price hikes last year, PepsiCo has seen pushback from customers “balking” at higher prices.

Inflation is on the decline despite the best efforts of greedy CEOs who continue to price-gouge families despite making near-record profits. Corporations like PepsiCo have followed the same formula for years – keep raising prices no matter how successful they are, and many of PepsiCo’s own customers are clearly fed up with it. PepsiCo is simply failing to meet the demand for more affordable prices.”

Accountable.US’ Liz Zelnick

Faced with pushback from customers, PepsiCo Chairman and CEO Ramon Laguarta admitted to suffering “a bit of a slowdown in the U.S.” but made no promise to lower prices—a reality that didn’t stop him from taking $33.9 million in total compensation last year, an increase from $28.4 million in 2022. 

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