After higher prices boost revenue, Coca-Cola CEO reports that inflation is moderating in most markets.

• James Quincey, CEO of Coca-Cola, stated that while inflation is decreasing in many regions worldwide, there are some exceptions, specifically in Argentina.
• In most of Coke's markets, consumers were paying approximately 3.5% more for their beverages compared to the previous year.
• According to Quincey, on a global basis, 3.5% of businesses is close to what was being obtained prior to Covid and the inflation spike, as stated on CNBC's "Squawk on the Street."

After relying on price hikes to increase revenue, CEO James Quincey stated Tuesday that inflation is moderating in most markets.

Coke announced its fourth-quarter sales results on Tuesday, revealing that higher prices helped the company surpass Wall Street's expectations. However, Coke's price increases have decreased from the previous two years' double-digit growth.

Despite a 9% increase in overall prices in the fourth quarter, Coke's CEO stated that this was due to hyperinflation in markets such as Argentina. In most of Coke's markets, consumers only paid about 3.5% more for their drinks compared to the previous year.

According to Quincey, on a global basis, 3.5% of businesses is close to what was being obtained prior to Covid and the inflation spike, as stated on CNBC's "Squawk on the Street."

In January, the U.S. consumer price index increased by 3.1% compared to the previous year, as per data from the U.S. Department of Labor, which was made public on Tuesday.

Coke executives announced in July that the company would not be raising prices for 2023, as consumers in Europe and the U.S. had started opting for cheaper private-label juices and bottled water instead of Coke's Simply and Smartwater brands.

On Tuesday, Quincey stated that the U.S. consumer has diverged into two distinct paths. While those with more disposable income are opting for Coke's premium beverages, such as Fairlife milk, those with limited budgets are cutting back on spending and choosing more value packs.

As a result, Coke's North American volume decreased by 1% in the quarter.