Paying more at the store: Cost of diapers, feminine products to increase
If you have noticed that the cost of just about everything at the supermarket has gone up recently, you'd be correct — and those prices are going to keep increasing.
According to CNBC, Procter & Gamble has announced that they will hike prices on baby care (diapers, like Pampers and Luvs), feminine care (brands such as Always and Tampax), and adult incontinence products this September due to higher commodity costs.
P&G Chief Operating Officer Jon Moeller told analysts via the business network, "This is one of the bigger increases in commodity costs that we’ve seen over the period of time that I’ve been involved with this, which is a fairly long period of time."
The Wall Street Journal reports the price increases will be in the, "mid- to high-single-digit percentage points." So, for example, a $30 pack of diapers today will cost $32 or $33 within the next few months.
The news from Proctor & Gamble comes after Kimberly-Clark, which makes Huggies diapers and other paper products, also announced price increases in the same range starting by the end of June.
USA Today reports Procter & Gamble reported a $3.3 billion profit Tuesday, an increase of over 12% from the same period one year ago. Sales rose over 5% to $18.1 billion.