P&G reports strong quarter and consumer acceptance of higher prices

The Cincinnati-based consumer-products company reported revenue of $21 billion for the period ended Dec. 31, a 6% increase compared with a year earlier, fueled in part by the company’s highest average-price increases since spring 2019.

U.S. inflation in 2021 hit its fastest pace in nearly four decades as pandemic supply and demand imbalances pushed up prices on everything from used cars to household staples.

Pricing on average rose 3% in the latest quarter, P&G said, and price increases accounted for half the company’s revenue growth in the period. Higher volumes accounted for the other half.

Procter & Gamble Says Shoppers Are Unbowed by Higher Prices – WSJ