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Coca-Cola dan sejarah inflasi AS: pelajaran dari harga lima sen
Analysis: 1 Oct 2026. CPI and beverage prices through August 2026, released 11 September. Historical Coca-Cola prices, the broad BLS category and a retail listing are separate evidence types.
For more than 70 years, a nickel was the familiar price of Coca-Cola. Today, a can’s price depends on the retailer, package and promotion. The story illustrates changing purchasing power — and why one product cannot measure inflation across an economy.
1. A nickel through wars and crises
The company dates the first sale at Jacobs’ Pharmacy in Atlanta to May 1886, at five cents a glass. Company history. Levy and Young’s archival research describes the historical serving as roughly 6.5 US fluid ounces, about 192 ml, rather than today’s 12-ounce can.
The study links price rigidity to bottling contracts, price advertising and single-coin vending machines. Moving directly from five to ten cents meant a 100% increase. The customary standard was widely maintained until the early 1950s; the last nickel outlets disappeared around 1958–1959. It was not a universal price at every US outlet throughout those years.Levy and Young, 2002 manuscript presented at NBER in 2003.
An unchanged sticker can coexist with changing costs and margins. This is a useful example of delayed price adjustment, not evidence that the dollar’s purchasing power stood still.
A nickel against a changing consumer basket
5¢ · customary standard, not a monthly averageHypothetical price linked to CPI from Jan 1913
The all-items CPI-U rose 200.0% from January 1913 to December 1959. A five-cent price mechanically indexed to that basket would have reached 15 cents. Conversely, five cents in December 1959 represented roughly 1.67 cents in January 1913 purchasing power. BLS via FRED; original calculations.
The chart compares the customary nickel reference with that hypothetical CPI-linked price. The latter is not an observed Coca-Cola series. The gradual abandonment of the old standard after 1950 is marked separately. CPI deflates consumer purchasing power, not the manufacturer’s sugar or production costs.
Three documented Coca-Cola price references
Cents per 12-ounce equivalent (about 355 ml). Different packages and channels — these bars are not an inflation index.
FTC records describe a 32-ounce returnable Coca-Cola bottle priced at 33 cents in Montross, Virginia, in May 1975: 12.38 cents per 12-ounce equivalent. The historical nickel for 6.5 ounces equals 9.23 cents per 12 ounces. Volume conversion cannot eliminate differences in packaging, deposits or selling channels. FTC volume 91, published 1978, p. 558, paragraph 118.
The Walmart page retrieved on 1 October 2026 lists 12 cans of 12 ounces at $7.68, or 64 cents per can, for Sacramento 95829. The indexed source carries a September 2026 crawl label but gives no exact offer-validity date. This is a published listing example, not a receipt verified on 1 October, a national average or an annual price. Local taxes and deposits may affect checkout. Retail listing.
After volume conversion, the listing is about 6.9 times the old nickel price. Calling this “Coca-Cola inflation since 1886” would ignore different packages, outlets and services. The evidence appears as isolated bars. No invented annual price line fills 1960–2017.
Major US inflation waves
CPI-U · year on year · BLS · through Aug 2026
Show values and dates
Month
CPI-U · year on year · BLS · through Aug 2026
1914-01
2,04%
1914-02
1,02%
1914-03
1,02%
1914-04
0,00%
1914-05
2,06%
1914-06
1,02%
1914-07
1,01%
1914-08
3,03%
1914-09
2,00%
1914-10
1,00%
1914-11
0,99%
1914-12
1,00%
1915-01
1,00%
1915-02
1,01%
1915-03
0,00%
1915-04
2,04%
1915-05
2,02%
1915-06
2,02%
1915-07
1,00%
1915-08
-0,98%
1915-09
-0,98%
1915-10
0,99%
1915-11
0,98%
1915-12
1,98%
1916-01
2,97%
1916-02
4,00%
1916-03
6,06%
1916-04
6,00%
1916-05
5,94%
1916-06
6,93%
1916-07
6,93%
1916-08
7,92%
1916-09
9,90%
1916-10
10,78%
1916-11
11,65%
1916-12
12,62%
1917-01
12,50%
1917-02
15,38%
1917-03
14,29%
1917-04
18,87%
1917-05
19,63%
1917-06
20,37%
1917-07
18,52%
1917-08
19,27%
1917-09
19,82%
1917-10
19,47%
1917-11
17,39%
1917-12
18,10%
1918-01
19,66%
1918-02
17,50%
1918-03
16,67%
1918-04
12,70%
1918-05
13,28%
1918-06
13,08%
1918-07
17,97%
1918-08
18,46%
1918-09
18,05%
1918-10
18,52%
1918-11
20,74%
1918-12
20,44%
1919-01
17,86%
1919-02
14,89%
1919-03
17,14%
1919-04
17,61%
1919-05
16,55%
1919-06
14,97%
1919-07
15,23%
1919-08
14,94%
1919-09
13,38%
1919-10
13,13%
1919-11
13,50%
1919-12
14,55%
1920-01
16,97%
1920-02
20,37%
1920-03
20,12%
1920-04
21,56%
1920-05
21,89%
1920-06
23,67%
1920-07
19,54%
1920-08
14,69%
1920-09
12,36%
1920-10
9,94%
1920-11
7,03%
1920-12
2,65%
1921-01
-1,55%
1921-02
-5,64%
1921-03
-7,11%
1921-04
-10,84%
1921-05
-14,08%
1921-06
-15,79%
1921-07
-14,90%
1921-08
-12,81%
1921-09
-12,50%
1921-10
-12,06%
1921-11
-12,12%
1921-12
-10,82%
1922-01
-11,05%
1922-02
-8,15%
1922-03
-8,74%
1922-04
-7,73%
1922-05
-5,65%
1922-06
-5,11%
1922-07
-5,08%
1922-08
-6,21%
1922-09
-5,14%
1922-10
-4,57%
1922-11
-3,45%
1922-12
-2,31%
1923-01
-0,59%
1923-02
-0,59%
1923-03
0,60%
1923-04
1,20%
1923-05
1,20%
1923-06
1,80%
1923-07
2,38%
1923-08
3,01%
1923-09
3,61%
1923-10
3,59%
1923-11
2,98%
1923-12
2,37%
1924-01
2,98%
1924-02
2,38%
1924-03
1,79%
1924-04
0,59%
1924-05
0,59%
1924-06
0,00%
1924-07
-0,58%
1924-08
-0,58%
1924-09
-0,58%
1924-10
-0,58%
1924-11
-0,58%
1924-12
0,00%
1925-01
0,00%
1925-02
0,00%
1925-03
1,17%
1925-04
1,18%
1925-05
1,76%
1925-06
2,94%
1925-07
3,51%
1925-08
4,12%
1925-09
3,51%
1925-10
2,91%
1925-11
4,65%
1925-12
3,47%
1926-01
3,47%
1926-02
4,07%
1926-03
2,89%
1926-04
4,07%
1926-05
2,89%
1926-06
1,14%
1926-07
-1,13%
1926-08
-1,69%
1926-09
-1,13%
1926-10
-0,56%
1926-11
-1,67%
1926-12
-1,12%
1927-01
-2,23%
1927-02
-2,79%
1927-03
-2,81%
1927-04
-3,35%
1927-05
-2,25%
1927-06
-0,56%
1927-07
-1,14%
1927-08
-1,15%
1927-09
-1,14%
1927-10
-1,14%
1927-11
-2,26%
1927-12
-2,26%
1928-01
-1,14%
1928-02
-1,72%
1928-03
-1,16%
1928-04
-1,16%
1928-05
-1,15%
1928-06
-2,84%
1928-07
-1,16%
1928-08
-0,58%
1928-09
0,00%
1928-10
-1,15%
1928-11
-0,58%
1928-12
-1,16%
1929-01
-1,16%
1929-02
0,00%
1929-03
-0,58%
1929-04
-1,17%
1929-05
-1,16%
1929-06
0,00%
1929-07
1,17%
1929-08
1,17%
1929-09
0,00%
1929-10
0,58%
1929-11
0,58%
1929-12
0,58%
1930-01
0,00%
1930-02
-0,58%
1930-03
-0,59%
1930-04
0,59%
1930-05
-0,59%
1930-06
-1,75%
1930-07
-4,05%
1930-08
-4,62%
1930-09
-4,05%
1930-10
-4,62%
1930-11
-5,20%
1930-12
-6,40%
1931-01
-7,02%
1931-02
-7,65%
1931-03
-7,69%
1931-04
-8,82%
1931-05
-9,47%
1931-06
-10,12%
1931-07
-9,04%
1931-08
-8,48%
1931-09
-9,64%
1931-10
-9,70%
1931-11
-10,37%
1931-12
-9,32%
1932-01
-10,06%
1932-02
-10,19%
1932-03
-10,26%
1932-04
-10,32%
1932-05
-10,46%
1932-06
-9,93%
1932-07
-9,93%
1932-08
-10,60%
1932-09
-10,67%
1932-10
-10,74%
1932-11
-10,20%
1932-12
-10,27%
1933-01
-9,79%
1933-02
-9,93%
1933-03
-10,00%
1933-04
-9,35%
1933-05
-8,03%
1933-06
-6,62%
1933-07
-3,68%
1933-08
-2,22%
1933-09
-1,49%
1933-10
-0,75%
1933-11
0,00%
1933-12
0,76%
1934-01
2,33%
1934-02
4,72%
1934-03
5,56%
1934-04
5,56%
1934-05
5,56%
1934-06
5,51%
1934-07
2,29%
1934-08
1,52%
1934-09
3,03%
1934-10
2,27%
1934-11
2,27%
1934-12
1,52%
1935-01
3,03%
1935-02
3,01%
1935-03
3,01%
1935-04
3,76%
1935-05
3,76%
1935-06
2,24%
1935-07
2,24%
1935-08
2,24%
1935-09
0,74%
1935-10
1,48%
1935-11
2,22%
1935-12
2,99%
1936-01
1,47%
1936-02
0,73%
1936-03
0,00%
1936-04
-0,72%
1936-05
-0,72%
1936-06
0,73%
1936-07
1,46%
1936-08
2,19%
1936-09
2,19%
1936-10
2,19%
1936-11
1,45%
1936-12
1,45%
1937-01
2,17%
1937-02
2,17%
1937-03
3,65%
1937-04
4,38%
1937-05
5,11%
1937-06
4,35%
1937-07
4,32%
1937-08
3,57%
1937-09
4,29%
1937-10
4,29%
1937-11
3,57%
1937-12
2,86%
1938-01
0,71%
1938-02
0,00%
1938-03
-0,70%
1938-04
-0,70%
1938-05
-2,08%
1938-06
-2,08%
1938-07
-2,76%
1938-08
-2,76%
1938-09
-3,42%
1938-10
-4,11%
1938-11
-3,45%
1938-12
-2,78%
1939-01
-1,41%
1939-02
-1,42%
1939-03
-1,42%
1939-04
-2,82%
1939-05
-2,13%
1939-06
-2,13%
1939-07
-2,13%
1939-08
-2,13%
1939-09
0,00%
1939-10
0,00%
1939-11
0,00%
1939-12
0,00%
1940-01
-0,71%
1940-02
0,72%
1940-03
0,72%
1940-04
1,45%
1940-05
1,45%
1940-06
2,17%
1940-07
1,45%
1940-08
1,45%
1940-09
-0,71%
1940-10
0,00%
1940-11
0,00%
1940-12
0,71%
1941-01
1,44%
1941-02
0,71%
1941-03
1,43%
1941-04
2,14%
1941-05
2,86%
1941-06
4,26%
1941-07
5,00%
1941-08
6,43%
1941-09
7,86%
1941-10
9,29%
1941-11
10,00%
1941-12
9,93%
1942-01
11,35%
1942-02
12,06%
1942-03
12,68%
1942-04
12,59%
1942-05
13,19%
1942-06
10,88%
1942-07
11,56%
1942-08
10,74%
1942-09
9,27%
1942-10
9,15%
1942-11
9,09%
1942-12
9,03%
1943-01
7,64%
1943-02
6,96%
1943-03
7,50%
1943-04
8,07%
1943-05
7,36%
1943-06
7,36%
1943-07
6,10%
1943-08
4,85%
1943-09
5,45%
1943-10
4,19%
1943-11
3,57%
1943-12
2,96%
1944-01
2,96%
1944-02
2,96%
1944-03
1,16%
1944-04
0,57%
1944-05
0,00%
1944-06
0,57%
1944-07
1,72%
1944-08
2,31%
1944-09
1,72%
1944-10
1,72%
1944-11
1,72%
1944-12
2,30%
1945-01
2,30%
1945-02
2,30%
1945-03
2,30%
1945-04
1,71%
1945-05
2,29%
1945-06
2,84%
1945-07
2,26%
1945-08
2,26%
1945-09
2,26%
1945-10
2,26%
1945-11
2,26%
1945-12
2,25%
1946-01
2,25%
1946-02
1,69%
1946-03
2,81%
1946-04
3,37%
1946-05
3,35%
1946-06
3,31%
1946-07
9,39%
1946-08
11,60%
1946-09
12,71%
1946-10
14,92%
1946-11
17,68%
1946-12
18,13%
1947-01
18,13%
1947-02
18,78%
1947-03
19,67%
1947-04
19,02%
1947-05
18,38%
1947-06
17,65%
1947-07
12,12%
1947-08
11,39%
1947-09
12,75%
1947-10
10,58%
1947-11
8,45%
1947-12
8,84%
1948-01
10,23%
1948-02
9,30%
1948-03
6,85%
1948-04
8,68%
1948-05
9,13%
1948-06
9,55%
1948-07
9,91%
1948-08
8,89%
1948-09
6,52%
1948-10
6,09%
1948-11
4,76%
1948-12
2,99%
1949-01
1,27%
1949-02
1,28%
1949-03
1,71%
1949-04
0,42%
1949-05
-0,42%
1949-06
-0,83%
1949-07
-2,87%
1949-08
-2,86%
1949-09
-2,45%
1949-10
-2,87%
1949-11
-1,65%
1949-12
-2,07%
1950-01
-2,08%
1950-02
-1,26%
1950-03
-0,84%
1950-04
-1,26%
1950-05
-0,42%
1950-06
-0,42%
1950-07
1,69%
1950-08
2,10%
1950-09
2,09%
1950-10
3,80%
1950-11
3,78%
1950-12
5,93%
1951-01
8,09%
1951-02
9,36%
1951-03
9,32%
1951-04
9,32%
1951-05
9,28%
1951-06
8,82%
1951-07
7,47%
1951-08
6,58%
1951-09
6,97%
1951-10
6,50%
1951-11
6,88%
1951-12
6,00%
1952-01
4,33%
1952-02
2,33%
1952-03
1,94%
1952-04
2,33%
1952-05
1,93%
1952-06
2,32%
1952-07
3,09%
1952-08
3,09%
1952-09
2,30%
1952-10
1,91%
1952-11
1,14%
1952-12
0,75%
1953-01
0,38%
1953-02
0,76%
1953-03
1,14%
1953-04
0,76%
1953-05
1,14%
1953-06
1,13%
1953-07
0,37%
1953-08
0,75%
1953-09
0,75%
1953-10
1,12%
1953-11
0,75%
1953-12
0,75%
1954-01
1,13%
1954-02
1,51%
1954-03
1,13%
1954-04
0,75%
1954-05
0,75%
1954-06
0,37%
1954-07
0,37%
1954-08
0,00%
1954-09
-0,37%
1954-10
-0,74%
1954-11
-0,37%
1954-12
-0,74%
1955-01
-0,74%
1955-02
-0,74%
1955-03
-0,74%
1955-04
-0,37%
1955-05
-0,74%
1955-06
-0,74%
1955-07
-0,37%
1955-08
-0,37%
1955-09
0,37%
1955-10
0,37%
1955-11
0,37%
1955-12
0,37%
1956-01
0,37%
1956-02
0,37%
1956-03
0,37%
1956-04
0,75%
1956-05
1,12%
1956-06
1,87%
1956-07
2,24%
1956-08
1,87%
1956-09
1,86%
1956-10
2,23%
1956-11
2,23%
1956-12
2,99%
1957-01
2,99%
1957-02
3,36%
1957-03
3,73%
1957-04
3,72%
1957-05
3,70%
1957-06
3,31%
1957-07
3,28%
1957-08
3,66%
1957-09
3,28%
1957-10
2,91%
1957-11
3,27%
1957-12
2,90%
1958-01
3,62%
1958-02
3,25%
1958-03
3,60%
1958-04
3,58%
1958-05
3,21%
1958-06
2,85%
1958-07
2,47%
1958-08
2,12%
1958-09
2,12%
1958-10
2,12%
1958-11
2,11%
1958-12
1,76%
1959-01
1,40%
1959-02
1,05%
1959-03
0,35%
1959-04
0,35%
1959-05
0,35%
1959-06
0,69%
1959-07
0,69%
1959-08
1,04%
1959-09
1,38%
1959-10
1,73%
1959-11
1,38%
1959-12
1,73%
1960-01
1,03%
1960-02
1,73%
1960-03
1,73%
1960-04
1,72%
1960-05
1,72%
1960-06
1,72%
1960-07
1,37%
1960-08
1,37%
1960-09
1,02%
1960-10
1,36%
1960-11
1,36%
1960-12
1,36%
1961-01
1,71%
1961-02
1,36%
1961-03
1,36%
1961-04
1,02%
1961-05
1,02%
1961-06
0,68%
1961-07
1,35%
1961-08
1,01%
1961-09
1,35%
1961-10
0,67%
1961-11
0,67%
1961-12
0,67%
1962-01
0,67%
1962-02
1,01%
1962-03
1,01%
1962-04
1,34%
1962-05
1,34%
1962-06
1,34%
1962-07
1,00%
1962-08
1,34%
1962-09
1,33%
1962-10
1,33%
1962-11
1,33%
1962-12
1,33%
1963-01
1,33%
1963-02
1,00%
1963-03
1,33%
1963-04
0,99%
1963-05
0,99%
1963-06
1,32%
1963-07
1,32%
1963-08
1,32%
1963-09
0,99%
1963-10
1,32%
1963-11
1,32%
1963-12
1,64%
1964-01
1,64%
1964-02
1,64%
1964-03
1,31%
1964-04
1,31%
1964-05
1,31%
1964-06
1,31%
1964-07
1,30%
1964-08
0,98%
1964-09
1,30%
1964-10
0,97%
1964-11
1,30%
1964-12
0,97%
1965-01
0,97%
1965-02
0,97%
1965-03
1,29%
1965-04
1,62%
1965-05
1,62%
1965-06
1,94%
1965-07
1,61%
1965-08
1,94%
1965-09
1,61%
1965-10
1,93%
1965-11
1,60%
1965-12
1,92%
1966-01
1,92%
1966-02
2,56%
1966-03
2,56%
1966-04
2,87%
1966-05
2,87%
1966-06
2,53%
1966-07
2,85%
1966-08
3,48%
1966-09
3,48%
1966-10
3,79%
1966-11
3,79%
1966-12
3,46%
1967-01
3,46%
1967-02
2,81%
1967-03
2,80%
1967-04
2,48%
1967-05
2,79%
1967-06
2,78%
1967-07
2,77%
1967-08
2,45%
1967-09
2,75%
1967-10
2,43%
1967-11
2,74%
1967-12
3,04%
1968-01
3,65%
1968-02
3,95%
1968-03
3,94%
1968-04
3,93%
1968-05
3,92%
1968-06
4,20%
1968-07
4,49%
1968-08
4,48%
1968-09
4,46%
1968-10
4,75%
1968-11
4,73%
1968-12
4,72%
1969-01
4,40%
1969-02
4,68%
1969-03
5,25%
1969-04
5,52%
1969-05
5,51%
1969-06
5,48%
1969-07
5,44%
1969-08
5,71%
1969-09
5,70%
1969-10
5,67%
1969-11
5,93%
1969-12
6,20%
1970-01
6,18%
1970-02
6,15%
1970-03
5,82%
1970-04
6,06%
1970-05
6,04%
1970-06
6,01%
1970-07
5,98%
1970-08
5,41%
1970-09
5,66%
1970-10
5,63%
1970-11
5,60%
1970-12
5,57%
1971-01
5,29%
1971-02
5,00%
1971-03
4,71%
1971-04
4,16%
1971-05
4,40%
1971-06
4,64%
1971-07
4,36%
1971-08
4,62%
1971-09
4,08%
1971-10
3,81%
1971-11
3,28%
1971-12
3,27%
1972-01
3,27%
1972-02
3,51%
1972-03
3,50%
1972-04
3,49%
1972-05
3,23%
1972-06
2,71%
1972-07
2,95%
1972-08
2,94%
1972-09
3,19%
1972-10
3,42%
1972-11
3,67%
1972-12
3,41%
1973-01
3,65%
1973-02
3,87%
1973-03
4,59%
1973-04
5,06%
1973-05
5,53%
1973-06
6,00%
1973-07
5,73%
1973-08
7,38%
1973-09
7,36%
1973-10
7,80%
1973-11
8,25%
1973-12
8,71%
1974-01
9,39%
1974-02
10,02%
1974-03
10,39%
1974-04
10,09%
1974-05
10,71%
1974-06
10,86%
1974-07
11,51%
1974-08
10,86%
1974-09
11,95%
1974-10
12,06%
1974-11
12,20%
1974-12
12,34%
1975-01
11,80%
1975-02
11,23%
1975-03
10,25%
1975-04
10,21%
1975-05
9,47%
1975-06
9,39%
1975-07
9,72%
1975-08
8,60%
1975-09
7,91%
1975-10
7,44%
1975-11
7,38%
1975-12
6,94%
1976-01
6,72%
1976-02
6,29%
1976-03
6,07%
1976-04
6,05%
1976-05
6,20%
1976-06
5,97%
1976-07
5,35%
1976-08
5,71%
1976-09
5,49%
1976-10
5,46%
1976-11
4,88%
1976-12
4,86%
1977-01
5,22%
1977-02
5,91%
1977-03
6,44%
1977-04
6,95%
1977-05
6,73%
1977-06
6,87%
1977-07
6,83%
1977-08
6,62%
1977-09
6,60%
1977-10
6,39%
1977-11
6,72%
1977-12
6,70%
1978-01
6,84%
1978-02
6,43%
1978-03
6,55%
1978-04
6,50%
1978-05
6,97%
1978-06
7,41%
1978-07
7,70%
1978-08
7,84%
1978-09
8,31%
1978-10
8,93%
1978-11
8,89%
1978-12
9,02%
1979-01
9,28%
1979-02
9,86%
1979-03
10,09%
1979-04
10,49%
1979-05
10,85%
1979-06
10,89%
1979-07
11,26%
1979-08
11,82%
1979-09
12,18%
1979-10
12,07%
1979-11
12,61%
1979-12
13,29%
1980-01
13,91%
1980-02
14,18%
1980-03
14,76%
1980-04
14,73%
1980-05
14,41%
1980-06
14,38%
1980-07
13,13%
1980-08
12,87%
1980-09
12,60%
1980-10
12,77%
1980-11
12,65%
1980-12
12,52%
1981-01
11,83%
1981-02
11,41%
1981-03
10,49%
1981-04
10,00%
1981-05
9,78%
1981-06
9,55%
1981-07
10,76%
1981-08
10,80%
1981-09
10,95%
1981-10
10,14%
1981-11
9,59%
1981-12
8,92%
1982-01
8,39%
1982-02
7,62%
1982-03
6,78%
1982-04
6,51%
1982-05
6,68%
1982-06
7,06%
1982-07
6,44%
1982-08
5,85%
1982-09
5,04%
1982-10
5,14%
1982-11
4,59%
1982-12
3,83%
1983-01
3,71%
1983-02
3,49%
1983-03
3,60%
1983-04
3,90%
1983-05
3,55%
1983-06
2,58%
1983-07
2,46%
1983-08
2,56%
1983-09
2,86%
1983-10
2,85%
1983-11
3,27%
1983-12
3,79%
1984-01
4,19%
1984-02
4,60%
1984-03
4,80%
1984-04
4,56%
1984-05
4,23%
1984-06
4,22%
1984-07
4,20%
1984-08
4,29%
1984-09
4,27%
1984-10
4,26%
1984-11
4,05%
1984-12
3,95%
1985-01
3,53%
1985-02
3,52%
1985-03
3,70%
1985-04
3,69%
1985-05
3,77%
1985-06
3,76%
1985-07
3,55%
1985-08
3,35%
1985-09
3,14%
1985-10
3,23%
1985-11
3,51%
1985-12
3,80%
1986-01
3,89%
1986-02
3,11%
1986-03
2,26%
1986-04
1,59%
1986-05
1,49%
1986-06
1,77%
1986-07
1,58%
1986-08
1,57%
1986-09
1,75%
1986-10
1,47%
1986-11
1,28%
1986-12
1,10%
1987-01
1,46%
1987-02
2,10%
1987-03
3,03%
1987-04
3,78%
1987-05
3,86%
1987-06
3,65%
1987-07
3,93%
1987-08
4,28%
1987-09
4,36%
1987-10
4,53%
1987-11
4,53%
1987-12
4,43%
1988-01
4,05%
1988-02
3,94%
1988-03
3,93%
1988-04
3,90%
1988-05
3,89%
1988-06
3,96%
1988-07
4,13%
1988-08
4,02%
1988-09
4,17%
1988-10
4,25%
1988-11
4,25%
1988-12
4,42%
1989-01
4,67%
1989-02
4,83%
1989-03
4,98%
1989-04
5,12%
1989-05
5,36%
1989-06
5,17%
1989-07
4,98%
1989-08
4,71%
1989-09
4,34%
1989-10
4,49%
1989-11
4,66%
1989-12
4,65%
1990-01
5,20%
1990-02
5,26%
1990-03
5,23%
1990-04
4,71%
1990-05
4,36%
1990-06
4,67%
1990-07
4,82%
1990-08
5,62%
1990-09
6,16%
1990-10
6,29%
1990-11
6,27%
1990-12
6,11%
1991-01
5,65%
1991-02
5,31%
1991-03
4,90%
1991-04
4,89%
1991-05
4,95%
1991-06
4,70%
1991-07
4,45%
1991-08
3,80%
1991-09
3,39%
1991-10
2,92%
1991-11
2,99%
1991-12
3,06%
1992-01
2,60%
1992-02
2,82%
1992-03
3,19%
1992-04
3,18%
1992-05
3,02%
1992-06
3,09%
1992-07
3,16%
1992-08
3,15%
1992-09
2,99%
1992-10
3,20%
1992-11
3,05%
1992-12
2,90%
1993-01
3,26%
1993-02
3,25%
1993-03
3,09%
1993-04
3,23%
1993-05
3,22%
1993-06
3,00%
1993-07
2,78%
1993-08
2,77%
1993-09
2,69%
1993-10
2,75%
1993-11
2,68%
1993-12
2,75%
1994-01
2,52%
1994-02
2,52%
1994-03
2,51%
1994-04
2,36%
1994-05
2,29%
1994-06
2,49%
1994-07
2,77%
1994-08
2,90%
1994-09
2,96%
1994-10
2,61%
1994-11
2,67%
1994-12
2,67%
1995-01
2,80%
1995-02
2,86%
1995-03
2,85%
1995-04
3,05%
1995-05
3,19%
1995-06
3,04%
1995-07
2,76%
1995-08
2,62%
1995-09
2,54%
1995-10
2,81%
1995-11
2,61%
1995-12
2,54%
1996-01
2,73%
1996-02
2,65%
1996-03
2,84%
1996-04
2,90%
1996-05
2,89%
1996-06
2,75%
1996-07
2,95%
1996-08
2,88%
1996-09
3,00%
1996-10
2,99%
1996-11
3,26%
1996-12
3,32%
1997-01
3,04%
1997-02
3,03%
1997-03
2,76%
1997-04
2,50%
1997-05
2,23%
1997-06
2,30%
1997-07
2,23%
1997-08
2,23%
1997-09
2,15%
1997-10
2,08%
1997-11
1,83%
1997-12
1,70%
1998-01
1,57%
1998-02
1,44%
1998-03
1,37%
1998-04
1,44%
1998-05
1,69%
1998-06
1,68%
1998-07
1,68%
1998-08
1,62%
1998-09
1,49%
1998-10
1,49%
1998-11
1,55%
1998-12
1,61%
1999-01
1,67%
1999-02
1,61%
1999-03
1,73%
1999-04
2,28%
1999-05
2,09%
1999-06
1,96%
1999-07
2,14%
1999-08
2,26%
1999-09
2,63%
1999-10
2,56%
1999-11
2,62%
1999-12
2,68%
2000-01
2,74%
2000-02
3,22%
2000-03
3,76%
2000-04
3,07%
2000-05
3,19%
2000-06
3,73%
2000-07
3,66%
2000-08
3,41%
2000-09
3,45%
2000-10
3,45%
2000-11
3,45%
2000-12
3,39%
2001-01
3,73%
2001-02
3,53%
2001-03
2,92%
2001-04
3,27%
2001-05
3,62%
2001-06
3,25%
2001-07
2,72%
2001-08
2,72%
2001-09
2,65%
2001-10
2,13%
2001-11
1,90%
2001-12
1,55%
2002-01
1,14%
2002-02
1,14%
2002-03
1,48%
2002-04
1,64%
2002-05
1,18%
2002-06
1,07%
2002-07
1,46%
2002-08
1,80%
2002-09
1,51%
2002-10
2,03%
2002-11
2,20%
2002-12
2,38%
2003-01
2,60%
2003-02
2,98%
2003-03
3,02%
2003-04
2,22%
2003-05
2,06%
2003-06
2,11%
2003-07
2,11%
2003-08
2,16%
2003-09
2,32%
2003-10
2,04%
2003-11
1,77%
2003-12
1,88%
2004-01
1,93%
2004-02
1,69%
2004-03
1,74%
2004-04
2,29%
2004-05
3,05%
2004-06
3,27%
2004-07
2,99%
2004-08
2,65%
2004-09
2,54%
2004-10
3,19%
2004-11
3,52%
2004-12
3,26%
2005-01
2,97%
2005-02
3,01%
2005-03
3,15%
2005-04
3,51%
2005-05
2,80%
2005-06
2,53%
2005-07
3,17%
2005-08
3,64%
2005-09
4,69%
2005-10
4,35%
2005-11
3,46%
2005-12
3,42%
2006-01
3,99%
2006-02
3,60%
2006-03
3,36%
2006-04
3,55%
2006-05
4,17%
2006-06
4,32%
2006-07
4,15%
2006-08
3,82%
2006-09
2,06%
2006-10
1,31%
2006-11
1,97%
2006-12
2,54%
2007-01
2,08%
2007-02
2,42%
2007-03
2,78%
2007-04
2,57%
2007-05
2,69%
2007-06
2,69%
2007-07
2,36%
2007-08
1,97%
2007-09
2,76%
2007-10
3,54%
2007-11
4,31%
2007-12
4,08%
2008-01
4,28%
2008-02
4,03%
2008-03
3,98%
2008-04
3,94%
2008-05
4,18%
2008-06
5,02%
2008-07
5,60%
2008-08
5,37%
2008-09
4,94%
2008-10
3,66%
2008-11
1,07%
2008-12
0,09%
2009-01
0,03%
2009-02
0,24%
2009-03
-0,38%
2009-04
-0,74%
2009-05
-1,28%
2009-06
-1,43%
2009-07
-2,10%
2009-08
-1,48%
2009-09
-1,29%
2009-10
-0,18%
2009-11
1,84%
2009-12
2,72%
2010-01
2,63%
2010-02
2,14%
2010-03
2,31%
2010-04
2,24%
2010-05
2,02%
2010-06
1,05%
2010-07
1,24%
2010-08
1,15%
2010-09
1,14%
2010-10
1,17%
2010-11
1,14%
2010-12
1,50%
2011-01
1,63%
2011-02
2,11%
2011-03
2,68%
2011-04
3,16%
2011-05
3,57%
2011-06
3,56%
2011-07
3,63%
2011-08
3,77%
2011-09
3,87%
2011-10
3,53%
2011-11
3,39%
2011-12
2,96%
2012-01
2,93%
2012-02
2,87%
2012-03
2,65%
2012-04
2,30%
2012-05
1,70%
2012-06
1,66%
2012-07
1,41%
2012-08
1,69%
2012-09
1,99%
2012-10
2,16%
2012-11
1,76%
2012-12
1,74%
2013-01
1,59%
2013-02
1,98%
2013-03
1,47%
2013-04
1,06%
2013-05
1,36%
2013-06
1,75%
2013-07
1,96%
2013-08
1,52%
2013-09
1,18%
2013-10
0,96%
2013-11
1,24%
2013-12
1,50%
2014-01
1,58%
2014-02
1,13%
2014-03
1,51%
2014-04
1,95%
2014-05
2,13%
2014-06
2,07%
2014-07
1,99%
2014-08
1,70%
2014-09
1,66%
2014-10
1,66%
2014-11
1,32%
2014-12
0,76%
2015-01
-0,09%
2015-02
-0,03%
2015-03
-0,07%
2015-04
-0,20%
2015-05
-0,04%
2015-06
0,12%
2015-07
0,17%
2015-08
0,20%
2015-09
-0,04%
2015-10
0,17%
2015-11
0,50%
2015-12
0,73%
2016-01
1,37%
2016-02
1,02%
2016-03
0,85%
2016-04
1,13%
2016-05
1,02%
2016-06
1,00%
2016-07
0,83%
2016-08
1,06%
2016-09
1,46%
2016-10
1,64%
2016-11
1,69%
2016-12
2,07%
2017-01
2,50%
2017-02
2,74%
2017-03
2,38%
2017-04
2,20%
2017-05
1,87%
2017-06
1,63%
2017-07
1,73%
2017-08
1,94%
2017-09
2,23%
2017-10
2,04%
2017-11
2,20%
2017-12
2,11%
2018-01
2,07%
2018-02
2,21%
2018-03
2,36%
2018-04
2,46%
2018-05
2,80%
2018-06
2,87%
2018-07
2,95%
2018-08
2,70%
2018-09
2,28%
2018-10
2,52%
2018-11
2,18%
2018-12
1,91%
2019-01
1,55%
2019-02
1,52%
2019-03
1,86%
2019-04
2,00%
2019-05
1,79%
2019-06
1,65%
2019-07
1,81%
2019-08
1,75%
2019-09
1,71%
2019-10
1,76%
2019-11
2,05%
2019-12
2,29%
2020-01
2,49%
2020-02
2,33%
2020-03
1,54%
2020-04
0,33%
2020-05
0,12%
2020-06
0,65%
2020-07
0,99%
2020-08
1,31%
2020-09
1,37%
2020-10
1,18%
2020-11
1,17%
2020-12
1,36%
2021-01
1,40%
2021-02
1,68%
2021-03
2,62%
2021-04
4,16%
2021-05
4,99%
2021-06
5,39%
2021-07
5,37%
2021-08
5,25%
2021-09
5,39%
2021-10
6,22%
2021-11
6,81%
2021-12
7,04%
2022-01
7,48%
2022-02
7,87%
2022-03
8,54%
2022-04
8,26%
2022-05
8,58%
2022-06
9,06%
2022-07
8,52%
2022-08
8,26%
2022-09
8,20%
2022-10
7,75%
2022-11
7,11%
2022-12
6,45%
2023-01
6,41%
2023-02
6,04%
2023-03
4,98%
2023-04
4,93%
2023-05
4,05%
2023-06
2,97%
2023-07
3,18%
2023-08
3,67%
2023-09
3,70%
2023-10
3,24%
2023-11
3,14%
2023-12
3,35%
2024-01
3,09%
2024-02
3,15%
2024-03
3,48%
2024-04
3,36%
2024-05
3,27%
2024-06
2,97%
2024-07
2,89%
2024-08
2,53%
2024-09
2,44%
2024-10
2,60%
2024-11
2,75%
2024-12
2,89%
2025-01
3,00%
2025-02
2,82%
2025-03
2,39%
2025-04
2,31%
2025-05
2,35%
2025-06
2,67%
2025-07
2,70%
2025-08
2,92%
2025-09
3,01%
2025-10
—
2025-11
2,74%
2025-12
2,68%
2026-01
2,39%
2026-02
2,41%
2026-03
3,26%
2026-04
3,81%
2026-05
4,25%
2026-06
3,53%
2026-07
3,36%
2026-08
3,40%
Observed monthly CPI-U, not seasonally adjusted. Monthly year-on-year rates differ from annual-average inflation. Missing October 2025 prevents that month’s year-on-year calculation; it is not estimated. BLS / FRED · CPIAUCNS
4. World wars and the Great Depression
War-era inflation reversed abruptly: CPI rose 23.7% year on year in June 1920, then fell 15.8% a year later. During the Great Depression, CPI declined 27.2% from October 1929 to March 1933. An unchanged drink price therefore rose relative to other consumer goods. BLS historical account; cumulative change calculated from CPI-U.
World War II price controls and rationing constrained prices and availability. Their removal exposed demand and shortages. Annual-average CPI inflation was 14.4% in 1947 and 7.9% in 1951, during the Korean War episode. These are changes in annual averages, not monthly year-on-year peaks. BLS history; calculations using CPI.
5. The Great Inflation, 1965–1982
Inflation accelerated before the oil shocks of 1973 and 1979. Energy disruptions compounded the problem; expectations and economic policy made it harder to contain. Annual-average CPI inflation reached 11.1% in 1974 and 13.5% in 1980; monthly year-on-year inflation was approximately 14.8% in March 1980. Federal Reserve History; CPI calculations.
The CPI basket rose 212.8% between January 1965 and December 1982. Cumulative increases matter more than one headline. Higher selling prices do not preserve profitability when labour, energy, transport and packaging costs increase faster. There is no comparable nationwide Coca-Cola price series covering this whole period in our evidence; CPI is not used to invent one.
6. Volcker and disinflation
The Fed’s anti-inflation campaign under Paul Volcker came with recessions and unemployment reaching 10.8% in late 1982. Federal Reserve History. Annual-average CPI inflation fell to 3.2% in 1983, from 13.5% in 1980.
Slower inflation did not reverse earlier price increases. Disinflation means a lower rate of increase; deflation means falling prices. The distinction also matters for bonds. In 2009, annual-average CPI fell 0.4% from 2008. A fixed beverage price says little about availability or affordability relative to wages.
Beverage prices after the pandemic: nominal and real
All soft drinks · USD per 12 oz in a 12-pack
Show values and dates
Month
All soft drinks · USD per 12 oz in a 12-pack
2018-04
0,34$
2018-05
0,33$
2018-06
0,33$
2018-07
0,33$
2018-08
0,34$
2018-09
0,35$
2018-10
0,37$
2018-11
0,35$
2018-12
0,33$
2019-01
0,35$
2019-02
0,35$
2019-03
0,36$
2019-04
0,35$
2019-05
0,35$
2019-06
0,34$
2019-07
0,34$
2019-08
0,34$
2019-09
0,35$
2019-10
0,35$
2019-11
0,34$
2019-12
0,35$
2020-01
0,36$
2020-02
0,36$
2020-03
0,37$
2020-04
0,38$
2020-05
0,37$
2020-06
0,40$
2020-07
0,39$
2020-08
0,39$
2020-09
0,40$
2020-10
0,40$
2020-11
0,39$
2020-12
0,39$
2021-01
0,41$
2021-02
0,40$
2021-03
0,41$
2021-04
0,40$
2021-05
0,39$
2021-06
0,40$
2021-07
0,40$
2021-08
0,40$
2021-09
0,42$
2021-10
0,44$
2021-11
0,43$
2021-12
0,44$
2022-01
0,45$
2022-02
0,46$
2022-03
0,48$
2022-04
0,48$
2022-05
0,47$
2022-06
0,49$
2022-07
0,51$
2022-08
0,53$
2022-09
0,51$
2022-10
0,53$
2022-11
0,53$
2022-12
0,54$
2023-01
0,54$
2023-02
0,54$
2023-03
0,56$
2023-04
0,55$
2023-05
0,54$
2023-06
0,55$
2023-07
0,55$
2023-08
0,57$
2023-09
0,55$
2023-10
0,56$
2023-11
0,55$
2023-12
0,57$
2024-01
0,61$
2024-02
0,58$
2024-03
0,57$
2024-04
0,59$
2024-05
0,56$
2024-06
0,56$
2024-07
0,58$
2024-08
0,58$
2024-09
0,58$
2024-10
0,57$
2024-11
0,55$
2024-12
0,54$
2025-01
0,58$
2025-02
0,57$
2025-03
0,58$
2025-04
0,58$
2025-05
0,56$
2025-06
0,58$
2025-07
0,57$
2025-08
0,57$
2025-09
0,57$
2025-10
—
2025-11
0,55$
2025-12
0,55$
2026-01
0,61$
2026-02
0,59$
2026-03
0,60$
2026-04
0,59$
2026-05
0,57$
2026-06
0,61$
2026-07
0,61$
2026-08
0,60$
BLS APU0000FN1102, not seasonally adjusted. Aug 2026: $0.603; released 11 Sep 2026. October 2025 remains a gap. Category average prices are not pure inflation or a Coca-Cola brand series. Real prices are deflated using CPI-U. BLS / FRED · APU0000FN1102 (all soft drinks) · BLS / FRED · CPIAUCNS
7. After the pandemic: the higher price level remains
US CPI reached 9.1% year on year in June 2022, with energy prices up 41.6%. BLS, 18 July 2022. Supply disruption, changing demand and rising costs overlapped; a single beverage cannot identify each factor’s contribution.
BLS average prices for all soft drinks in 12-packs of 12-ounce cans rose from $0.345 per can in December 2019 to $0.603 in August 2026: a 74.8% difference, compared with 30.4% for all-items CPI. CPI-deflated, the category’s average price increased 34.1%. BLS / FRED APU0000FN1102; original calculations.
This is not Coca-Cola alone. BLS recommends category CPI indexes for measuring price change rather than average-price series, whose composition can change. The 74.8% difference is therefore not a pure quality-adjusted inflation rate for beverages. October 2025 is missing and remains a gap, with no zero or interpolation.
8. What investors can learn today
The latest report used here covers August 2026, published 11 September: headline CPI 3.4% year on year, core CPI 2.4%, and nonalcoholic beverages 3.7%. BLS release. These are monthly observations, not October data or forecasts. September CPI is scheduled for 14 October 2026.
Coca-Cola reported global price/mix growth of 11% and unit-case volume growth of 5% for 2022. Price/mix also includes product, package and channel shifts; it is not the increase in a US can’s retail price. Company results, 14 February 2023. This is historical evidence of pricing capacity, not current operating results.
My interpretation: examine prices alongside volume, margins and cash. Revenue can rise through pricing even while servings sold decline. A promotion can lower one retailer’s price without reversing economy-wide inflation. Equity investors need durable demand after price increases; bond investors need prospective inflation and real yields; households also need income growth. The Coca-Cola story captures both constraints on repricing and cost pass-through. It does not establish whether KO shares are attractively valued today.
9. Data and chart methodology
Charts are rendered within the site. CPIAUCNS is BLS monthly, not seasonally adjusted CPI-U, January 1913–August 2026. Year-on-year inflation = 100 × (current CPI / CPI twelve months earlier − 1). Annual averages require all twelve months; no full 2025 average is calculated with October missing. No pre-1913 CPI is appended.
Real beverage price = monthly price × December 2019 CPI / monthly CPI, in December 2019 purchasing-power dollars. The historical counterfactual = $0.05 × monthly CPI / January 1913 CPI. These are original calculations, not observed Coca-Cola transactions. A US fluid ounce equals about 29.5735 ml. Per-12-ounce conversions adjust volume, not deposits, taxes, quality or restaurant service.
Sources reviewed 1 October 2026: archival research by Levy and Young, FTC records, company history, BLS/FRED data, Federal Reserve History and a labelled Walmart listing. Each historical price retains its observation and publication dates. Missing values remain missing. This is historical analysis, not a synthetic “Coca-Cola inflation index”.
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Coca-Cola dan sejarah inflasi AS: pelajaran dari harga lima sen
Analysis: 1 Oct 2026. CPI and beverage prices through August 2026, released 11 September. Historical Coca-Cola prices, the broad BLS category and a retail listing are separate evidence types.
For more than 70 years, a nickel was the familiar price of Coca-Cola. Today, a can’s price depends on the retailer, package and promotion. The story illustrates changing purchasing power — and why one product cannot measure inflation across an economy.
1. A nickel through wars and crises
The company dates the first sale at Jacobs’ Pharmacy in Atlanta to May 1886, at five cents a glass. Company history. Levy and Young’s archival research describes the historical serving as roughly 6.5 US fluid ounces, about 192 ml, rather than today’s 12-ounce can.
The study links price rigidity to bottling contracts, price advertising and single-coin vending machines. Moving directly from five to ten cents meant a 100% increase. The customary standard was widely maintained until the early 1950s; the last nickel outlets disappeared around 1958–1959. It was not a universal price at every US outlet throughout those years. Levy and Young, 2002 manuscript presented at NBER in 2003.
An unchanged sticker can coexist with changing costs and margins. This is a useful example of delayed price adjustment, not evidence that the dollar’s purchasing power stood still.
A nickel against a changing consumer basket
Show values and dates
2. One coin, changing purchasing power
The all-items CPI-U rose 200.0% from January 1913 to December 1959. A five-cent price mechanically indexed to that basket would have reached 15 cents. Conversely, five cents in December 1959 represented roughly 1.67 cents in January 1913 purchasing power. BLS via FRED; original calculations.
The chart compares the customary nickel reference with that hypothetical CPI-linked price. The latter is not an observed Coca-Cola series. The gradual abandonment of the old standard after 1950 is marked separately. CPI deflates consumer purchasing power, not the manufacturer’s sugar or production costs.
Three documented Coca-Cola price references
Cents per 12-ounce equivalent (about 355 ml). Different packages and channels — these bars are not an inflation index.
3. What changed in the price — and the package
FTC records describe a 32-ounce returnable Coca-Cola bottle priced at 33 cents in Montross, Virginia, in May 1975: 12.38 cents per 12-ounce equivalent. The historical nickel for 6.5 ounces equals 9.23 cents per 12 ounces. Volume conversion cannot eliminate differences in packaging, deposits or selling channels. FTC volume 91, published 1978, p. 558, paragraph 118.
The Walmart page retrieved on 1 October 2026 lists 12 cans of 12 ounces at $7.68, or 64 cents per can, for Sacramento 95829. The indexed source carries a September 2026 crawl label but gives no exact offer-validity date. This is a published listing example, not a receipt verified on 1 October, a national average or an annual price. Local taxes and deposits may affect checkout. Retail listing.
After volume conversion, the listing is about 6.9 times the old nickel price. Calling this “Coca-Cola inflation since 1886” would ignore different packages, outlets and services. The evidence appears as isolated bars. No invented annual price line fills 1960–2017.
Major US inflation waves
Show values and dates
4. World wars and the Great Depression
War-era inflation reversed abruptly: CPI rose 23.7% year on year in June 1920, then fell 15.8% a year later. During the Great Depression, CPI declined 27.2% from October 1929 to March 1933. An unchanged drink price therefore rose relative to other consumer goods. BLS historical account; cumulative change calculated from CPI-U.
World War II price controls and rationing constrained prices and availability. Their removal exposed demand and shortages. Annual-average CPI inflation was 14.4% in 1947 and 7.9% in 1951, during the Korean War episode. These are changes in annual averages, not monthly year-on-year peaks. BLS history; calculations using CPI.
5. The Great Inflation, 1965–1982
Inflation accelerated before the oil shocks of 1973 and 1979. Energy disruptions compounded the problem; expectations and economic policy made it harder to contain. Annual-average CPI inflation reached 11.1% in 1974 and 13.5% in 1980; monthly year-on-year inflation was approximately 14.8% in March 1980. Federal Reserve History; CPI calculations.
The CPI basket rose 212.8% between January 1965 and December 1982. Cumulative increases matter more than one headline. Higher selling prices do not preserve profitability when labour, energy, transport and packaging costs increase faster. There is no comparable nationwide Coca-Cola price series covering this whole period in our evidence; CPI is not used to invent one.
6. Volcker and disinflation
The Fed’s anti-inflation campaign under Paul Volcker came with recessions and unemployment reaching 10.8% in late 1982. Federal Reserve History. Annual-average CPI inflation fell to 3.2% in 1983, from 13.5% in 1980.
Slower inflation did not reverse earlier price increases. Disinflation means a lower rate of increase; deflation means falling prices. The distinction also matters for bonds. In 2009, annual-average CPI fell 0.4% from 2008. A fixed beverage price says little about availability or affordability relative to wages.
Beverage prices after the pandemic: nominal and real
Show values and dates
7. After the pandemic: the higher price level remains
US CPI reached 9.1% year on year in June 2022, with energy prices up 41.6%. BLS, 18 July 2022. Supply disruption, changing demand and rising costs overlapped; a single beverage cannot identify each factor’s contribution.
BLS average prices for all soft drinks in 12-packs of 12-ounce cans rose from $0.345 per can in December 2019 to $0.603 in August 2026: a 74.8% difference, compared with 30.4% for all-items CPI. CPI-deflated, the category’s average price increased 34.1%. BLS / FRED APU0000FN1102; original calculations.
This is not Coca-Cola alone. BLS recommends category CPI indexes for measuring price change rather than average-price series, whose composition can change. The 74.8% difference is therefore not a pure quality-adjusted inflation rate for beverages. October 2025 is missing and remains a gap, with no zero or interpolation.
8. What investors can learn today
The latest report used here covers August 2026, published 11 September: headline CPI 3.4% year on year, core CPI 2.4%, and nonalcoholic beverages 3.7%. BLS release. These are monthly observations, not October data or forecasts. September CPI is scheduled for 14 October 2026.
Coca-Cola reported global price/mix growth of 11% and unit-case volume growth of 5% for 2022. Price/mix also includes product, package and channel shifts; it is not the increase in a US can’s retail price. Company results, 14 February 2023. This is historical evidence of pricing capacity, not current operating results.
My interpretation: examine prices alongside volume, margins and cash. Revenue can rise through pricing even while servings sold decline. A promotion can lower one retailer’s price without reversing economy-wide inflation. Equity investors need durable demand after price increases; bond investors need prospective inflation and real yields; households also need income growth. The Coca-Cola story captures both constraints on repricing and cost pass-through. It does not establish whether KO shares are attractively valued today.
9. Data and chart methodology
Charts are rendered within the site. CPIAUCNS is BLS monthly, not seasonally adjusted CPI-U, January 1913–August 2026. Year-on-year inflation = 100 × (current CPI / CPI twelve months earlier − 1). Annual averages require all twelve months; no full 2025 average is calculated with October missing. No pre-1913 CPI is appended.
Real beverage price = monthly price × December 2019 CPI / monthly CPI, in December 2019 purchasing-power dollars. The historical counterfactual = $0.05 × monthly CPI / January 1913 CPI. These are original calculations, not observed Coca-Cola transactions. A US fluid ounce equals about 29.5735 ml. Per-12-ounce conversions adjust volume, not deposits, taxes, quality or restaurant service.
Sources reviewed 1 October 2026: archival research by Levy and Young, FTC records, company history, BLS/FRED data, Federal Reserve History and a labelled Walmart listing. Each historical price retains its observation and publication dates. Missing values remain missing. This is historical analysis, not a synthetic “Coca-Cola inflation index”.
Postingan mencerminkan pandangan pribadi penulis pada saat publikasi. Itu bukan rekomendasi investasi.