The exact amount of price increases will vary by brand, but will be in the mid-to-high single digit percentage range, P&G said. They will go into effect in mid-September.
Kimberly-Clark will raise prices on Huggies, Pull-Ups and Scott toilet paper in North America in June in response to rising commodity costs.
“There are higher costs to operate in this higher demand environment,” CFO Kofi Bruce said on a call with analysts.
Consumer prices for March rose 2.6% compared to the same month last year, the Bureau of Labor Statistics said last week. In March alone, consumer prices climbed 0.6% from the month prior, the largest monthly increase since 2012.