Proctor & Gamble Raising Prices
October 19, 2021
Cincinnati based Proctor & Gamble announced it is increasing the cost of several brands including Gillette, Venus, Olay, Crest and Oral B. Our Jim Russell tells WCPO TV inflation and labor shortages will force some companies to raise wages. However, he says, that will not apply in industries across the board.
“Wages are not keeping up for some people out there, and that will prove to be a difficult period for them,” said Russell. “While we think inflation will moderate, perhaps, early next year, it’s not guaranteed. And I do think for the time being, call it for the remainder of this year, and, perhaps, into early next year, that prices will remain on the elevated side of the equation.”
WCPO reports P&G expects prices to raise an estimated 5%.
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