Say goodbye to $6 Cheetos—snack companies finally lower prices

A boy eating chips from a package.

One snack giant has finally admitted that $6 for a bag of Cheetos is crumbling consumers’ wallets.

After multiple years of raising prices for consumers, PepsiCo’s snack unit Frito-Lay is finally feeling them bite back. The company—which produces most of America’s chip favorites, including Doritos, Ruffles, and Lay's—reported a 0.5% decline in second quarter revenues Thursday. The drop comes after Frito-Lay saw its net revenues soar roughly $7 billion between 2020 and 2023.