It’s happening-rising cost on consumer goods. Get ready to spend more on things like diapers and toilet paper next month.
The economy is still reeling from the pandemic and lock down. And now we will begin to see an uptick in prices of consumer goods- like diapers, toilet paper and paper towels.
Commodities such as plastic, paper, sugar, grain and more are getting more expensive due to demand passing the supply levels. Shipping costs are getting pricier with fuel costs on the rise as well.
Kimberly-Clark and Proctor & Gamble have already announced price hikes on baby and child care items, adult care, feminine products and more, due to rising raw material costs to produce the products.
While specifics on price increases haven’t been announced, it will vary by brand. The store shelf price ultimately is determined at the sole discretion of the retailer.
Hormel Foods Corp recently raised prices on Jennie-O turkey products because of higher grain costs. J.M. Smucker Co. raised prices for Jif peanut butter and said it might have to do the same with pet snacks because of higher shipping costs. Even Coca-Cola has said a price hike is likely on the way.
Unfortunately the rising cost on consumer goods comes just as we thought the economy was getting back to some sort of normalcy.
Have you noticed rising costs on items you purchase regularly?
Source: Fox 5 Atlanta
More and more places are loosening masks requirements and the sense of some form of “normal” seems to be returning.