I'm gonna bet these price increases will not be transitory.
Via the Wall Street Journal:
- Procter & Gamble will start charging more for household staples
- the latest and biggest consumer-products company to announce price increases
- cited rising costs for raw materials, such as resin and pulp, and higher expenses to transport goods
- P&G said could be a precursor to broader increases
- follows a similar move last month by rival Kimberly-Clark
- “This is one of the bigger increases in commodity costs that we’ve seen over the period of time that I’ve been involved with this, which is a fairly long period of time,” said P&G Operating Chief Jon Moeller, a 33-year company veteran.
This will give the Fed something to think about, officials there have been very relaxed about inflation not rising.
Powell: "What the ...????"
