P&G to offset rising costs with price increases, productivity …

Procter & Gamble will rely on price increases and new productivity initiatives to offset higher costs of freight and commodities. P&G also completed a second round of price increases, with many hikes going into effect in September and October. “We will offset a portion of these cost headwinds with price increases and productivity savings,” said Schulten. “We will continue to invest in irresistible superiority.” Product reformulations and price hikes have been a go-to move for P&G in fighting rising inflation. The company announced price hikes on oral and skin care last year in addition to increasing its reliance on alternate suppliers and reformulated products.