Coke to raise prices

July 18, 2008 3:03:38 PM PDT
The world's largest soft-drink maker has announced a price increase.Coca-Cola says it has to increase prices because of a higher cost for ingredients, and to make up for the company's declining second quarter profits.

The price increase is set to take effect after Labor Day.

Coke hasn't said yet now much more consumers will be paying, but some analysts say the price increase would not be more than 10 percent.