The products in your medicine cabinet may soon become more expensive

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This is the latest round of price increases announced by the company. Manufacturers and shops of other major consumer goods have also increased their prices due to rising raw material and transportation costs.
Procter & Gamble said it has communicated the latest price increases to distributors and retailers in the past few weeks, and these price increases will take effect in approximately 90 days.

If P&G’s retail customers, including large stores, supermarkets, pharmacies, etc., decide to pass on these growth, they will soon use consumers’ wallets.

Procter & Gamble, which produces brands such as Gillette, Braun and SK-II, did not specify which beauty, beauty and oral care brands it is raising prices for retailers. But an email obtained by CNN Business from Procter & Gamble to distributors indicated that Olay, Crest and Oral-B products will become more expensive, at least for retailers.

Procter & Gamble Chief Financial Officer Andre Schulten said in a conference call with analysts on Tuesday that the specific price increase will vary from project to project, but will be in the mid-single-digit percentage range.

“The extent and timing of these actions are very category-specific, brand-specific, and sometimes dependent on the product form within the brand. This is not a one-size-fits-all approach,” he said.

According to a distributor in the store, P&G sent an email on October 11 informing the company to increase the price of Olay Regenerist Max by 6.1% and the price of Regenerist Ultra Rich and Regenerist Ingredient Collections on January 11. 3.5%, the price of Olay Age Defy Moisturizers increased from 15.3%% to 19.3%, and the price of Olay Total Moisturizer increased from 15.3% to 19.8%. The distributor shared the email on condition of anonymity to protect its relationship with P&G.

P&G also reminded the distributor to increase the price of selected varieties of Crest and Oral-B mouthwashes by 12% to 32.5%, battery toothbrushes by 4% to 20%, electric toothbrushes by 10%, and selected beauty products The weighted average of the price products is 11%. Procter & Gamble did not specify which beauty products will become more expensive.

Procter & Gamble said in an email: “The price increase is to address a specific part of the input cost inflation that occurs with the increase in commodity prices.”

Procter & Gamble declined to comment.

Previously, P&G announced that it had increased the prices of Pampers diapers, Always and Tampax tampons in September. Schulten said on Tuesday that Procter & Gamble has increased prices in 9 of the 10 categories in its product line.

Costs are rising faster than P&G previously estimated. Procter & Gamble now expects to add 2.3 billion U.S. dollars in freight and merchandise costs in fiscal year 2022. The company estimated that such costs would increase by US$1.9 billion in July.

“Since we gave our preliminary outlook for this year, input costs have been rising,” Schulten said.

He said that despite the increase in prices, consumers have not changed their shopping habits due to the decrease in the number of P&G products purchased.

Grocery chain Albertsons also pointed out on Monday that consumers have not adjusted their shopping behavior due to rising prices.

“We have not seen major changes in customer behavior,” CEO Vivek Sankaran said in a conference call with analysts. “We didn’t see their intentions change drastically in the next few weeks and months.”


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