Not up as in not generally up vs. inflation over a long period.
There didn't used to be sales everywhere all the time when they were 99 cents a bottle standard price. If there was a sale, they were 79 cents or 89 cents. The market has changed some, and if you need to buy when there isn't a sale, you get smacked. That's just the way it is.
But, in general, I don't think I've ever paid less on an inflation adjusted value. For as long as I can remember, coke and pepsi have been effectively $4-$6 for a 24 pack when they're on sale or for sale at the gas station. They weren't $2-$3 for the same thing 20+ years ago.