Add Pampers and Tampax to the list of brands you may soon pay more for at the store.
Procter & Gamble (PG) said Tuesday that it will raise prices on brands such as Pampers diapers and Always and Tampax tampons, the latest consumer goods’ manufacturer to hike what it charges retailers.
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.
If P&G’s retail customers — which include Walmart (WMT), Target (TGT) and Costco (COST) — pass on those increases, they’ll soon be hitting consumers’ wallets.
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.
P&G’s move 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.
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 operate in this higher demand environment,” CFO Kofi Bruce said on a call with analysts.
Prices consumers are paying have also increased.
Consumer prices for March rose 2.6% compared to the same month last year, the Bureau of Labor Statistics said last week. In March alone, consumer prices climbed 0.6% from the month prior, the largest monthly increase since 2012.
