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PepsiCo said it will cut prices on its core brands by up to nearly 15% as soon as this week to address consumer backlash over recent price hikes.
The snacks that will see prices lowered include products under its Lay’s, Doritos, Cheetos and Tostitos brands. It comes after the company received an influx of messages from upset consumers over the past year.
Food prices have remained elevated even as broader inflation has cooled.
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Grocery prices rose 2.4% on an annual basis in December 2025, according to the Bureau of Labor Statistics’ consumer price index, and have surged since the COVID-19 pandemic.
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“At the heart of our business are the consumers who choose our brands. They trust us to bring them moments of joy, and they’ve been honest with us about how rising everyday costs are making their daily decisions harder. Message received,” the company said on Tuesday.
PepsiCo Foods U.S. CEO Rachel Ferdinando said that consumers have made it clear that “they’re feeling the strain.”
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“Lowering the suggested retail price reflects our commitment to help reduce the pressure where we can,” Ferdinando said.
The food conglomerate said that while it suggested new retail prices, which are slated to roll out this week, retailers ultimately set their prices, so “shoppers may see even greater savings depending on the store.”
The company said it will continue taking “steps to keep its most loved brands within reach” while maintaining quality. The price cuts are part of the company’s broader strategy to increase accessibility to its products.
PepsiCo shares are up more than 13% year to date.
