Consumer Brands Warn of More Price Hikes
Major consumer goods companies warn of further price hikes next year to cover rising energy and freight costs driven by the war on Iran. The pressure on margins threatens to prolong inflation as shoppers struggle with higher grocery bills.
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Consumer goods giants including COCA-COLA CO and PROCTER & GAMBLE CO announced further price hikes on Tuesday to offset surging costs driven by the conflict in Iran. The adjustments follow climbing energy, freight, and raw material expenses that threaten profit margins across the sector.
