Big global brands Pepsico Inc. and Levi Strauss & Co. told investors this week they offset inflation with price increases, but rising costs of everything from aluminum to cotton signal tighter times ahead for consumer goods companies. Freight costs and raw material prices have surged this year across industries due to global supply chain disruptions, squeezing profit margins at companies looking to recover from the impact of the COVID-19 pandemic. To cushion the blow, Pepsico and Levi Strauss, among the first batch of consumer product companies to report quarterly earnings, have raised prices for jeans, snacks, and sodas, helping results exceed expectations. While those companies were able to pass along costs to consumers, higher prices will be a headwind until at least the end of the year with some industries likely facing pressure until the middle of 2022, analysts have said. With government data showing inflation has started to dent …