Procter & Gamble said Wednesday the company was increasing prices for more of its products in an effort to hold onto profit margins as the costs of freight and commodities rise.
Chief Financial Officer Andre Schulten said during an earnings call the price increases are “very specific to the category, brand and sometimes the product from within a brand,” according to CNBC.
Procter & Gamble had already raised prices on 10 product categories, including baby care, feminine care, grooming and skin care.
The company said net sales in the second quarter of the fiscal year 2022 reached $21 billion, a 6% increase over the prior year.
“Organic sales, which exclude the impacts of foreign exchange, acquisitions and divestitures also increased 6%,” the company said. The increase in organic sales was driven by a 3% increase in shipment volumes and 3% of increased pricing to help offset the significant commodity and other input cost increases. Mix was neutral to net sales growth.”
Procter & Gamble said its outlook for the rest of the fiscal year includes “headwinds of $2.3 billion after-tax from higher commodity costs, $300 million after-tax from higher freight costs and $200 million after-tax from negative foreign exchange impacts.”
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Where the DC Elites are totally unaffected—are incapable of understanding it—are completely oblivious to the fact that they created it—and don’t know what to do to correct it.
I doubt a single one of them, even SEES the prices on the shelves, for goods… ITS their aids and servants that do.
But don’t worry brandon said inflation is a good thing. I guess it depends on whether you live off of the taxpayers or not.
That goes for the entitled unproductives and politicians.
“Inflation: When Costs Rise, Companies Pass Them On To Consumers”,,,the same way they pass Government tax increases on the rich successful businesses who just pass it on to the consumer who gets the double whammy. Another reason to never raise taxes on corporate successes thinking it won’t destroy the working man’s ability to make a living and pay his bills. Let those who work be those who keep, with THE PEOPLE keeping government out of the business of THE PEOPLE, which becomes risky business for everyone when they do.