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The Undercover Economist :
The economic mysteries of daily life.
The Mystery of the 5-Cent Coca-Cola
Why it's so hard for companies to raise prices.
(Continued from Page 1)
I drank a half-liter bottle of Coke while writing this article, and it cost me 85 pence ($1.70) at the corner shop. I'd rather have paid a nickel, but price changes are important. Perhaps I shouldn't be too ungrateful.
Correction, May 14, 2007: The piece originally said that the price of Coca-Cola remained the same for more than 60 years. In fact, it remained the same for more than 70 years, from 1886-1959. (Return to the corrected sentence.)
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Tim Harford is a Financial Times columnist. His latest book, The Logic of Life, will be published in paperback on Feb. 10.
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