Procter & Gamble has said it will raise prices on more household goods, warning that supply chain costs would be higher than it had previously anticipated.
Andre Schulten, chief financial officer, said P&G recently informed retailers that it will begin charging more for some grooming, skin care and oral care products. That follows price increases to a range of other consumer products, including home and fabric care.
Manufacturers and retailers are feeling the pressure from accelerating inflation, as raw material prices climb and logjams at ports and warehouses drive up shipping fees. Colgate-Palmolive, General Mills and Kleenex maker Kimberly-Clark are just a few of the consumer goods companies that have announced price increases this year to help make up the difference.