July 11 (Reuters) - PepsiCo ( PEP ) missed expectations

for second-quarter revenue on Thursday as it faced weak demand

for its snacks and sodas mainly in the U.S., its largest market.

Inflation-weary U.S. consumers have cut back spending on

sodas and salty snacks, prompting PepsiCo ( PEP ) to double down on

promotions and marketing efforts to bolster volume growth, which

has fallen in the last few quarters due to price increases.

Customers are also opting for smaller packs and cheaper

alternatives after packaged-food companies raised prices to

cover rising production and raw material costs.

PepsiCo's ( PEP ) average prices jumped 5% for the quarter ended

June 15, while organic volume slipped 3%.

The company's net revenue rose to $22.50 billion in the

quarter from $22.32 billion a year earlier, while analysts had

estimated $22.57 billion, according to LSEG data.