PepsiCo Inc on Thursday forecast annual profit below analysts' estimates, signaling that multiple price hikes were beginning to dampen demand for its sodas and snacks amid a cost-of-living crisis.

The company said it expects fiscal 2023 core constant currency earnings of $7.20 per share, compared with estimates of $7.28, according to IBES data from Refinitiv. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)