Inflation and supply chain problems are making things more expensive in 2022. Here are some of those items. PennyGem’s Johana Restrepo has more.
(CNN) — It’s going to cost you more to wash your clothes.
Procter & Gamble said Wednesday that it was raising prices by an average of about 8% on retail customers next month for its Tide and Gain laundry detergents, Downy fabric softener and Bounce dryer sheets.
If retailers decide to pass off any of the increases, additional household staples will be pricier for shoppers. U.S. consumer prices rose 7% annually in December, the steepest climb in prices in 39 years.
P&G said it’s raising prices to offset some cost pressures, including transportation, labor and commodities it uses to manufacture its products. The U.S. producer price index, a gauge for prices manufacturers are paying, rose 9.7% annually.
Procter & Gamble said that it was raising prices by an average of about 8% for its Tide and Gain laundry detergents, Downy fabric softener and Bounce dryer sheets.
“Transportation and labor markets remain tight. Availability of materials remain stretched,” P&G CEO Jon Moeller said on an analyst call Wednesday. “In some categories and in some markets, inflationary pressures are broad-based with little sign of near-term relief.”
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