Acidity is mainly due to increase secretion of acid in the stomach and it causes irritation to the intestine, throat and pain.
Antacid are used to neutralise these acids in the stomach and soda/carbonated drinks are used sometimes to reduce the acidity. The reason is the bubbles in the drink expand in the stomach creating pressure on the sphincter pushing the stomach acid and contents back to the food pipe. This reduces the acid content in the stomach and reduces the acidity.