Consumer good shortages may be over, as the pandemic ends, however, in September, Procter & Gamble will be raising the prices of many of their commonly-used household brands, such as Tide, Pampers, Charmin, Scope, and Oral-B, said the company.
Procter & Gamble plans to raise prices on a slew of products by September, citing the rising cost of raw materials and shipping.
Household supplies from detergent to diapers are poised to slap consumers with sticker shock this fall, even as the US slowly shakes off its pandemic woes.
Procter & Gamble — the maker of Tide detergent, Pampers diapers and Gillette razors — said Tuesday it plans to raise prices on a slew of products by September, citing the rising cost of raw materials and shipping.
The announcement comes weeks after rival Kimberly-Clark, which makes Scott toilet paper and Huggies diapers, announced mid-to-high single digit price hikes by June.
Post, the Minnesota company that makes the high fiber, crunchy cereal, in March said it was back at full capacity and cited production glitches related to skyrocketing pandemic demand for the product.
Cheerios maker General Mills is ticking up prices on major brands, as is Hormel Foods Corp., which makes Jennie-O ground turkey and Skippy peanut butter. J.M. Smucker Co. has already boosted the price of Jif peanut butter and is considering hikes on its pet products, according to reports.
Paper products are going up because of a shortage in pulp and polymer resins, while other products are becoming more expensive because of increased shipping and transportation costs due to the pandemic, manufacturers said.
The last time paper products’ prices went up significantly was in 2018 when there was a similar run on pulp, experts said.
The consumer price index, which measure what consumers pay for most goods, jumped by 2.6 percent in the year ended March — or the biggest 12-month increase since August 2018, according to government data.
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