Prices Will Surge On These Products Categories In Fall: What You Need To Know

Procter & Gamble (PG) joins the growing ranks of companies to announce they are raising prices in the coming months.

The consumer goods conglomerate made the announcement Tuesday as it gave its third-quarter 2021 earnings report. The company reported net sales of $18.1 billion, up 5% compared to a year earlier.

In a conference call to analysts, Procter & Gamble said it will increase prices on some products come fall, CNBC reported.

While the company did not indicate exactly which brands would likely see the price hike, it did say that increases would occur across its baby care, feminine care, and adult incontinence products in the U.S., the news outlet said.

Procter & Gamble produces brands such as Tide laundry detergent, Charmin toilet paper, and Pampers diapers.

Like many producers of paper products, Procter & Gamble is seeing a rise in commodity costs, which it is looking to offset with price increases on some of its other products, according to CNBC.

Pulp has undergone a price increase as of recently as space on container ships comes at a premium, causing companies such as Kimberly-Clark to also raise its prices in the coming months on some products, also citing increasing commodity costs in the U.S. and Canada.

In March, Kimberly-Clark announced that consumers would start seeing price increases in late June on its baby and child care, adult care, and Scot bathroom tissue lines in the mid-to-high single-digit range. Kimberly-Clark produces brands that include Cottonelle toilet tissue, Kleenex facial tissue, Huggies diapers, and Kotex feminine hygiene products.

On Monday, Coca-Cola announced that it also was increasing the price of some of its products without naming specifically which brands would see the price hike. J.M. Smucker increased the price of its Jif peanut butter in August due to low peanut yields, and General Mills said in March that prices increases would be coming in the near term.

Procter & Gamble said that the price increase of its products will vary by brand but will range from the mid-to-high single digits, with consumers expected to see the higher price tags on some items starting in September, CNBC said.

Shares of Procter & Gamble were trading at $134.27 as of premarket hours, down $1.34 or 0.98%.