Consumer
P&G Stopped Hiking Prices and Sales Still Grew Last Quarter
- Organic sales gain of 3% surpasses analysts’ expectations
- Results show a break in inflation with prices unchanged
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Procter & Gamble Co. organic sales surpassed estimates on higher volume, a change from earlier quarters where most of the company’s growth came from price hikes.
Organic sales rose 3% in the three months ended Dec. 31, P&G said Wednesday, the biggest increase in three quarters. Most of that was due to higher volume, meaning retailers bought more essentials like Dawn dish soap and Gillette razors to restock their shelves. Prices were unchanged compared with the year-earlier quarter, the first time they haven’t risen since 2019.