PepsiCo has finally moved to cut snack prices after a bag of its chips hit highs of $7 in some stores.
Over the past several years, PepsiCo steadily increased prices across its Frito-Lay division, which produces Doritos, Lay’s and Cheetos. The strategy helped boost revenue during a period of inflation driven by higher costs for ingredients, packaging and transportation. The increases added up, however, the Associated Press reports.
