Coke is upping its prices as labor costs are on the rise

Coca-Cola Beverage raised the factory price of its drinks, including its iconic Coca-Cola.

The drink manufacturer on Thursday announced that it has increased the price of 11 drinks by an average of 5.8 percent.

As of yesterday, the beverage manufacturer increased the factory price of 250-milliliter (8-ounce) canned Coca-Cola and 500-milliliter PET bottle Coca-Cola by 4.9 percent. The price of a 1.5 liter Coca-Cola went up by 5 percent. The factory price of a 250-milliliter Canada Dry inched up by 5.2 percent.

Raising the factory price was inevitable due to the increased cost incurred by company and changes in the retail environment, according to the company.

“The increased labor cost and distribution cost resulted in the price adjustment,” according to a spokesperson for the beverage manufacturer.

By Jin Min-ji