The company that makes iconic household products like Tide and Gillette is warning its customers that prices will be going up.
Procter & Gamble said the costs of freight and the materials that go into making the products are going up so they’re passing the increase on to consumers, The Wall Street Journal reported.
P&G estimates the increase in freight and transportation costs will be at least $200 million higher than in the past, Fox Business reported.
Materials to make the products are expected to cost the company $2.1 billion, CNBC reported.
The company also blamed the increased cost of warehousing products, Reuters reported.
The price increase is in addition to the rising costs P&G announced earlier this year for diapers and toilet paper, among other products.
Grooming, skincare and oral care are among the products that will have higher prices, Fox Business reported.
In total, there will be increases in nine out of 10 categories.
Not only are costs to produce the products going up, so is the demand for the products, the company said Tuesday, according to The Wall Street Journal.
©2021 Cox Media Group