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The maker of Arizona Iced Tea said the company plans to maintain the 99-cent price point for its 23-ounce tall cans despite higher costs related to decades-high inflation, according to a report.

Arizona Beverage Company Chairman and co-founder Don Vultaggio told CNBC this week the company is taking various steps to keep its fan-favorite price in place – including the implementation of a redesigned can lid to cut down on manufacturing costs

“For as long as we can, we’re going to hold our price,” Vultaggio said in an interview published on Thursday.

Vultaggio’s vow comes on the heels of a CostCo executive who said the company was committed to keeping the price of its hot dog-and-soda combo at $1.50 “forever” despite inflation.

Many companies that sell food and drinks have hiked prices over the last year to offset the higher cost of shipping and manufacturing goods. The September Consumer Price Index released this week showed a 13% increase in “food at home,” or grocery prices, compared to the same month one year earlier.

Vultaggio pointed out that his company relies on word-of-mouth advertising rather than expansive media campaigns favored by larger rivals. Additionally, the drink maker relies on selling larger volumes of cheap products rather than selling at premium price points.

Earlier this year, a social media firestorm ensued after an image circulating showing a can of Arizona Iced Tea with a $1.29 label. The company quickly clarified that the photo “goes viral a lot” and did not indicate a price change.

The $1.29 reflects the price of Arizona Iced Tea in Canadian dollars, while the 99-cent price still applies in the US.

Vultaggio expressed shock about the sharp rise in inflation during an interview with Today.com earlier this year.

“Everything (people are) buying today there’s a price increase on. We’re trying to hold the ground and hold for a consumer who is pinched on all fronts,” Vultaggio said. “I’ve been in business a long time and candidly I’ve never seen anything like what’s going on now. Every single thing has gone up, and I call it ‘from a paper clip to a too-big filling machine.'”