Consumers will see an increase in prices for some everyday goods from Procter & Gamble this fall, the Cincinnati-based corporation recently announced.
In its most recent quarterly earnings report, P&G said it would raise prices on baby care, feminine care and adult incontinence products in September. P&G brands in those categories include Pampers diapers, Luvs diapers, Always pads and Tampax tampons, among others.
The company did not say how much more consumers will have to pay for these products, but prices will vary depending on retailer.
The price increase is "to offset a portion of the impact of rising raw material costs needed to produce these products," P&G reps told CityBeat in an email.
"We continually strive to find the right balance between ensuring superior value for our consumers and operating our business sustainably for the long term. Innovation and serving our consumers is at the heart of what we do," P&G told CityBeat. "As opportunities allow, we’ll couple price increases with new product innovations – adding value for consumers."
Increases in the identified categories may largely affect women and caretakers, who already are dealing with economic fallout from the ongoing coronavirus pandemic. More than 2.3 million women have left the workforce since the pandemic began, according to figures from the National Women's Law Center reported by NBC News, and many of those remaining have seen their income slashed.
Economists report that sales of consumer packaged goods are up by 9.4% since last year, and production costs are rising to meet the need. In addition to Procter & Gamble, corporations such as Coca-Cola, PepsiCo, General Mills and Kimberly-Clark have raised prices to offset costs, CNBC reports.
P&G reported $18.1 billion in third-quarter fiscal sales.
Below, watch a video of Tampax spokesperson Amy Schumer asking her gynecologist questions about tampons.
