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Food and household brands warn of more price hikes as Iran war costs bite
Companies say rising energy, raw material and freight costs leave little room to absorb expenses without passing them on to shoppers.
- On Tuesday, Coca-Cola CEO Henrique Braun joined executives from Nestle and Procter & Gamble in warning of further price hikes next year to cover rising input costs.
- Rising energy, raw material, and freight costs, exacerbated by the U.S. war on Iran, are forcing companies to raise prices to protect profit margins.
- Procter & Gamble CFO Andre Schulten hiked the expected profit hit from rising costs to $1.4 billion from $1 billion, while Reckitt CEO Kris Licht trimmed revenue forecasts, sending shares down around 5% on Tuesday.
- Consumers are reaching their 'upper limit' for snack prices, according to Zacks Investment Management strategist Brian Mulberry, while Aptus Capital Advisors manager David Wagner noted that 'pricing is the last lever' companies have left.
- High gas and grocery bills remain a significant factor ahead of next week's U.S. midterm elections, fueling concerns that persistent inflation will extend into 2027.
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Consumer Goods Giants Warn of Further Price Increases as Iran War Drives Up Costs
Major food and household goods companies, including Coca-Cola, Procter & Gamble, Nestlé and Reckitt, are warning that consumers could face additional price increases next year ... The post Consumer Goods Giants Warn of Further Price Increases as Iran War Drives Up Costs first appeared on [your]NEWS.
Food and household brands warn of more price hikes as Iran war costs bite
·London, United Kingdom
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Increased costs of energy, raw materials and transportation, as a result of the U.S. war against Iran, imply that companies manufacturing from laundry detergents to soft drinks and snacks face a delicate balance to protect their profit margins.
·Mexico City, Mexico
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Total News Sources7
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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