Procter & Gamble hikes prices again with scant pushback, …

Procter & Gamble Co’s (PG.N) customers, particularly in the United States, continued to show little resistance to repeated price hikes helping the Tide detergent maker boost its sales forecast and third-quarter margins. The maker of Pampers diapers, Pantene shampoo and Oral-B toothpaste raised average prices across its categories by 10% during the quarter, and saw overall volumes fall just 3%. The reopening in China, P&G’s second-biggest market after the U.S., helped moderate volume declines, executives said, adding that they expect “a number of twists and turns along the way” as the country restarts. The fabric and home-care unit, P&G’s biggest, saw sales volumes fall 5%, with average price rising 13%.

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