The company didn’t specify which categories or products would be affected but said the increases will be about 2.5 percent on average.
In a media briefing call on Tuesday, Chief Financial Officer Andre Schulten called the increase “moderate,” “adequate” and in line with “the typical inflation consumers would experience.”
P&G’s move could be a harbinger of increasing prices, including on groceries, household staples, apparel and electronics. While spending data shows Americans are looking for bargains, economists warn that such price increases will further strain consumers battling stubborn inflation, high interest rates, and rising personal debt and energy costs.
Meanwhile, consumers’ outlook on the economy is the worst it has been in years.
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