Following the 5% increase in excise for cola drinks in the Budget, Coca-Cola India on Wednesday raised retail prices of all its cola brands including Coca-Cola and Spriite.
The company has increased prices of its cola brands from Rs 34 to Rs 37 (600 ml bottle). It has taken price hikes for its 1.25-litre pack from Rs 52 to Rs 55, informed a retailer from HomeMart in north Mumbai. With the increase in prices, Coke's 2-litre bottle now costs R79. Earlier it was priced at Rs 75.
Coca-Cola India's fizzy drinks include Coca cola, Thums-Up, Sprite, Fanta and Limca.
Rival PepsiCo India has not raised prices of any of its brands till now. "Cola majors have no choice but to increases prices now. PepsiCo India will soon follow suit," said an FMCG analyst based in Mumbai.
When contacted, Coca-Cola declined to comment on its recent move. In fact, consumers did expect price increases after the announcement in the Union Budget.