From Hershey to Clorox and Kleenex maker Kimberly-Clark, major consumer-products companies have announced plans to boost U.S. prices further or more broadly than previously proposed this year, signaling that the fastest inflation rate in a generation may not ebb soon. Product makers generally hold conversations with U.S. retailers at year-end about price hikes planned for the following year. But company executives disclosed during recent quarterly results that they are taking a more aggressive approach this year to protect margins. Clorox late on Thursday said it plans to raise prices on 85 percent of its products by the end of June, up from a previously planned 70 percent, with some of the company’s brands set for multiple rounds of price hikes. CFO Kevin Jacobsen said its executives are “having conversations with retailers” about additional price increases that would go into effect during the next two quarters, beyond those previously disclosed in …
From Kisses to Kleenex, Consumer-Product Makers Plot Additional US Price Hikes
February 5, 2022
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