P&G Plans to Raise Prices as Inflation Hits Grocery Shelves
- Company sees $125 million impact in 2021 from commodity costs
- Third-quarter sales, profit top Wall Street’s expectations
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Procter & Gamble Co. is raising the prices of some consumer products as the household-goods behemoth grapples with higher commodity costs.
With manufacturing expenses climbing for products like diapers, the owner of the Pampers and Always brands has started implementing price hikes in the baby care, feminine care and adult incontinence categories. The increases, to take effect by September, could be in the mid- to high-single digit percentages, the company said Tuesday as it reported third-quarter earnings.