Household staples are set to surge this fall. Procter & Gamble— the maker of Tide detergent, Pampers diapers and Gillette razors — said Tuesday it plans to raise prices on a slew of products by September, citing the rising cost of raw materials and shipping.
The price increases will affect baby products, adult diapers and feminine-care brands and will be in a percentage in the mid- to high-single-digits. Procter & Gamble blamed its price increases on the “impact of rising commodity prices,” including surging costs for raw materials like wood pulp and resin. Prices are rising in the food aisle as well, with shortages causing bizarre demand for products like Grape-Nuts cereal, which started selling on the black market for as much as $100 a box during the dark days of the pandemic.
Cheerios maker General Mills is ticking up prices on major brands, as is Hormel Foods Corp., which makes Jennie-O ground turkey and Skippy peanut butter. J.M. Smucker Co. has already boosted the price of Jif peanut butter and is considering hikes on its pet products.