Retail

Higher commodity costs lead to price hikes from Kimberly-Clark

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Huggies on display at an Albertson’s grocery store in Dallas, Texas.

Jason Janik | Bloomberg | Getty Images

Kimberly-Clark said Wednesday that it would hike prices on staples like Scott toilet paper and Huggies diapers, joining the growing list of consumer products companies that are raising prices.

Higher commodity costs are putting pressure on companies’ profits, but cash-strapped consumers who are still reeling from the impact of the coronavirus pandemic could opt for cheaper private-label products instead. In February, the unemployment rate was 6.2%, according to the Department of Labor. Consumer products companies are also starting to lap their surging sales sparked by last year’s…



Source cnbc.com

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