“If you take the impact of high inflation, it's clearly been slowing down or lesser impact as we've gone through the year. And so you're going to see potentially less impact in the fourth quarter from that.”

In context

“e some recent news on potential ban in the sale of CSDs and snacks in schools Mexico. I know that historically the impact of the sugar tax was not relevant at all. But just wanted to hear how you're positioning cases if it materializes? Thank you. James Quincey: Let me go in reverse order. I haven't read all the news in Mexico, I'm not sure it's happening yet. But we largely sell a no-sugar set of portfolios recommendation towards schools and that's part of our global approach. So I'm not sure how that matters, or not sure how that's going to impact the business. I'd imagine that's going to be very small, if at all. In terms of Q4, I mean, I would unpack it and say, look, part of what is important here is what is going to be the flow-through from some of these high inflation marketplaces. If you take the impact of high inflation, it's clearly been slowing down or lesser impact as we've gone through the year. And so you're going to see potentially less impact in the fourth quarter from that. In terms of where we're going, in terms of CSDs, yes, clearly, there's going to be a pickup in terms of price -- in terms of inventory, sorry. And I don't think you quite got to the right number yet. I think it's probably implicitly a little higher. But we can certainly follow-up on that one. I think it's going to be a strong outlook. Because at the end of the day, in my simple way of thinking about things, if you take out all the moving pieces in the craziness of what goes on, at the end of the day, if I take out the high-inflation markets out of the price/mix in Q3, you get 6%. Volume was minus 1%, that's 5%. That's right in the range of top end of our growth algorithm, the same as it has been each quarter so far this year and in previous years. And if you just want to look at it in sim”