PepsiCo to lower suggested prices on several popular snacks

PepsiCo said it will ask retailers to lower suggested retail prices on many of its snacks by up to nearly 15 percent ahead of the Super Bowl, and the company noted retailers set final shelf prices.

PepsiCo announced plans to lower suggested retail prices on many of its snack products ahead of the Super Bowl. The company said some suggested prices will fall by up to nearly 15 percent. It named brands such as Lay's, Doritos, Cheetos and Tostitos. PepsiCo said the move followed consumer feedback about grocery costs and that retailers ultimately set final prices. Key points: - PepsiCo announced it is lowering suggested retail prices on many of its iconic snacks by up to nearly 15 percent. - The change covers brands including Lay's, Doritos, Cheetos and Tostitos, according to the company press release. - Rachel Ferdinando, CEO of PepsiCo Foods U.S., said the company listened to consumers who reported feeling financial strain. - The press release emphasized these are suggested retail prices and that retailers ultimately set final shelf prices. - BBC reported that some food makers are adjusting as users of GLP-1 weight-loss drugs have reported decreased appetite and lower food spending. - Newsweek was directed to PepsiCo's press release after requesting comment. Summary: PepsiCo framed the price adjustments as an effort to reduce pressure on shoppers during a period of higher grocery costs and ahead of a major sporting event. Whether those lower suggested prices translate into lower shelf prices depends on retailer decisions. Undetermined at this time.