Pepsi revenues continue to fizz amid price hikes       

Company was seeing little push back due to the higher prices on 'affordable luxuries'

Pepsi's domination of the carbonated drinks market with Coca-Cola has helped it raise prices with little resistance from customers, while its snacks business is benefitting from a shift to eating more at home than at restaurants to rein in discretionary spending.

Pepsi lifted its annual forecasts for revenue and profit as the drinks and snack giant raised prices again to battle surging costs while also signalling resilient consumer demand.

The beat-and-raise pushed the company's shares higher and comes against the backdrop of gloomy expectations for third-quarter results amid surging inflation and rising interest rates.