PepsiCo is set to hike prices on some chips and sodas by the end of this year or in early 2027, Bloomberg News reported on Thursday, citing people familiar with the matter.

The company had cut prices by up to 15% on products such as Lay’s and Doritos earlier this year in response to customer backlash against several rounds of earlier price hikes.

PepsiCo, during the latest earnings report, kept its annual forecast intact and posted a 2% drop in second-quarter sales in its North American food business, which has struggled with waning demand, increasing competition and shifting preference towards snacking.

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(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Tasim Zahid)