$10 toothpaste? Household goods makers face blowback on price hikes…

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March 1 (Reuters) – Get ready for the $10 tube of toothpaste.

Colgate-Palmolive Co (CL.N) CEO Noel Wallace said last week at an industry conference that the household goods maker sees its new Optic White Pro Series toothpaste as the type of premium product “vital” to its ability to raise prices, which will help drive profit growth this year.

His remarks come when many consumer products companies are hiking prices as much as they can to offset their own rising costs, a trend that could continue due to the conflict between Russia and Ukraine, whose economic risks include driving up gasoline prices. read more

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www.reuters.com/business/retail-consumer/10-toothpaste-us-household-goods-makers-face-blowback-price-hikes-2022-03-01/

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