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We mentioned this morning how Proctor & Gamble earnings got squeezed thanks to rising commodity prices.The good news (for P&G shareholders) is that the company has a series of price hikes on the way.
This is from the company’s conference call, via Seeking Apha. A complete timeline for upcoming consumer price hikes:
In early June, price increases will go into effect on laundry detergents, hand and auto dish washing products, Iams pet nutrition, Head & Shoulders and Metamucil. Effective in late June, our price increases on Bounty and Charmin. And effective in early July, our increases on Pampers diapers and wipes.
Meanwhile, it seems pretty clear that higher commodity costs are bad for workers.
Read between the lines here:
We’re taking a holistic approach to the commodity cost increases we’re facing. First, we’re turning up the dial on our productivity and cost savings initiatives. As I mentioned earlier, for the first 3 quarters this fiscal year, we’ve generated an average of 150 basis points of cost savings per quarter…
We all know what “turning up the dial on our productivity” initiatives means.