It's the latest round of price hikes announced by the company. Other major consumer manufacturers and stores have also increased prices in response to rising expenses for raw materials and transportation.
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P&G said it communicated the latest increases to distributors and retailers over the last few weeks, and they will be going into effect in roughly the next 90 days.
If P&G's retail customers, which include big box stores, supermarkets, drug stores and more, decide to pass on those increases, they'll soon be hitting consumers' wallets.
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P&G, which makes brands such as Gillette, Braun and SK-II, did not specify which grooming, beauty and oral care brands it is increasing prices on for retailers. But an email from P&G to a distributor obtained by CNN Business indicates Olay, Crest and Oral-B products will be getting more expensive, at least for retailers.
The exact amount of price increases will vary by specific item, but will be in the mid-single digit percentage range, P&G chief financial officer Andre Schulten said on a call with analysts Tuesday.
"The degree and timing of these moves are very specific to the category, brand and sometimes the product form within a brand. This is not a one-size-fits-all approach," he said.
According to one distributor to stores, P&G sent an email on October 11 informing the company that on January 11 it would increase prices on Olay Regenerist Max by 6.1%, Regenerist Ultra Rich and Regenerist Ingredient Collections by 3.5%, Olay Age Defy Moisturizers by 15.3% to 19.3% and Olay Complete Moisturizers by 15.3% to 19.8%. The distributor shared the email on the condition of anonymity to protect its relationship with P&G.
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P&G also alerted this distributor that it will increase prices on select varieties of Crest and Oral-B mouthwash by 12% to 32.5%, battery toothbrushes by 4% to 20%, and electric toothbrushes by 10%, as well as prices on select grooming products by a weighted average of 11%. P&G did not say which grooming items would become more expensive.
"This list price increase is to address a specific portion of input cost inflation that has occurred as prices for commodities have increased," P&G said in the email.
P&G declined to comment.
Previously, P&G announced that it raised prices on brands such as Pampers diapers and Always and Tampax tampons in September. Schulten said Tuesday that P&G has raised prices in nine out of the 10 categories in its product lineup.
Costs are rising at a swifter pace than P&G previously estimated. P&G now expects to spend $2.3 billion more on freight and commodity costs for its 2022 fiscal year. The company in July predicted a $1.9 billion increase for such costs.
"Input costs have continued to rise since we gave our initial outlook for the year," Schulten said.
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Despite higher prices, consumers are not changing their shopping patterns by buying fewer of P&G's products, he said.
Grocery chain Albertsons on Monday also noted that consumers have not adjusted their shopping behavior in response to rising prices.
"We have not seen a material change in customer behavior," CEO Vivek Sankaran said on a call with analysts. "We don't see their intent changing dramatically over the next several weeks and months."
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