As if the pandemic wasn’t hard enough financially on a lot of people, new parents don’t seem to be catching a break. This week, the consumer goods giant, Procter & Gamble (P&G), said that it will raise prices on brands such as Pampers diapers and Always and Tampax tampons.
The exact amount of price increases will vary by brand, but will be in the mid-to-high single-digit percentage range, P&G said. They will go into effect in mid-September.
The company will also raise prices on Always Discreet adult incontinence products and Luvs diapers.
P&G said it was increasing prices on certain brands in North America to combat the impact of higher costs of raw materials used to make the products. P&G expects an additional $125 million in commodity costs this year compared to 2020.
This price hike goes in line with what many shoppers were facing all last year: higher prices due to events surrounding the pandemic such as higher demand, less workers and longer lead times on shipping.
According to CNN Business, P&G’s price increase follows planned price hikes from rival Kimberly-Clark (KMB).
Kimberly-Clark will raise prices on Huggies, Pull-Ups and Scott toilet paper in North America in June in response to rising commodity costs.
Your Morning Cereal Prices Could Be Going Up Too
Expenses are rising for many retail and consumer goods’ companies as a result of increased consumer demand and strains within the global supply chain.
General Mills (GIS), which makes cereals such as Cheerios, said last month that it was facing increased freight and supply chain costs.
“There are higher costs to