Proctor & Gamble, the maker of Charmin toilet paper, Crest toothpaste, Dawn dish soap and Tide laundry detergents, among a zillion other everyday consumer products, announced it will raise prices on a quarter of its items. The company has not said which products will get a price increase. It did say that Trump's tariffs will increase its costs by about $1 billion.
P&G is not the only company set to further stress your already-stretched grocery budget with a Trump tax.
The Washington Post calls P&G’s announcement a possible “harbinger of increasing prices, including on groceries, household staples, apparel and electronics.”
It doesn’t look like shopping at Walmart will help you escape “business genius” Trump’s inflation. More from The Post:
Walmart, a bellwether for the industry and U.S. consumer, has targeted baby gear, kitchenware and toys — items mostly manufactured in China. Industry experts expect some groceries will soon follow. The Trump administration’s 50 percent steel and aluminum tariffs will lead to higher food and beverage packaging costs, such as coffee tins and beer cans, many manufacturers say.
That’s on top of consumers already “battling stubborn inflation, high interest rates, and rising personal debt and energy costs.,” The Post also noted.
It’s no wonder that “consumers’ outlook on the economy is the worst it has been in years,” according to The Post.
