Proctor & Gamble is raising prices to offset cost pressures.
Proctor & Gale announced plan to raise prices on a number of its products in an effort to protect its profit margins in the face of climbing commodity and freight costs., the company said on its Wednesday earnings call that it has already informed retailers that the prices on fabric care products will increase effective Feb. 28. Those price hikes would affect products such as Tide detergent and Downy dryer sheets.
The company told retailers on Tuesday that prices will also climb on some personal health care products in mid-April, the report said., the consumer goods giant said prices on its mid-tier detergents were increased in recent months, but “prices on select products across all ten of its product categories” will be increased, and its “higher-end lines of laundry brands like Tide are now set to go up in price across the board.
The February 28 effective date for the price increase on the balance of its fabric care portfolio was voiced by P&G Chief Financial Officer Andre Schulten during the company’s second-quarter
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