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. Last Updated: 07/27/2016

Pepsi Plans Price Rise

NEW YORK -- Following the trend set by Coca-Cola earlier this month, PepsiCo plans to raise the price it charges its bottlers for concentrate by nearly 7 percent next year.

The increase means that both soft-drink giants are committed to a shift in strategy that rejects the volume-at-any-cost model that has been in place for the last three years in favor of improved profit margins with less volume.

Pepsi Bottling Group, the bottler that was spun off from PepsiCo earlier this year, made the announcement Friday.

Analysts said 12-packs of cans, which had been selling for $1.99 in many supermarkets, will rise to $2.49 or $2.79 after the increase.