Benzinga and Yahoo Finance LLC can earn a committee or income on some items via the links below.
Back on April 2, billionaire entrepreneur Mark Cuban Said his bluesky followers: “It's not a bad idea to go to the local Walmart or Big Box -Retailer and now buy many consumables. From toothpaste to soap, everything for which you can find storage space, buy before they have to supplement the inventory. Even if it is made in the US and give the price and the tariff.”
Now, four months later, that's exactly what happens.
Procter & Gamble (NYSE: PG), the company behind major brands such as Tide, Dawn, Charmin and Crest, announced in July that it will increase prices at around 25% of its products from August. The average increase will be around 2.5%, according to the Washington Post. The company called an annual $ 1 billion hit out of rates as one of the reasons.
Don't miss:
During a media briefing, P&G Chief Financial Officer Andre Schulten said that the increase “moderate”, “sufficient” will be and in accordance with “the typical inflation that consumers would experience.”
Retail analysts believe that more companies will follow. Walmart (NYSE: WMT), who often sets the tone for the prices of the industry, has already increased prices for items such as toys, kitchen utensils and baby items – products that are usually made in China. Rates on steel and aluminum are also expected to increase packaging costs for food and beverage facilities such as beer, coffee and canned goods.
According to the Tax Foundation, almost 75% of American food imports are affected by rates, including fried products, fish, liqueurs and spirits.
Trending: 'Scrolling to ubi' deloitte's #1 fastest growing software company allows users to earn money on their phones. You can invest today for just $ 0.30/share.
This last wave of price increases is because many Americans already have trouble keeping up. A study by the recent Century Foundation showed that 61% of Americans say that the Trump government has made their costs of living. The study showed that widespread financial anxiety: 41% said they had to dive into savings, 37% used credit cards to pay bills and 25% skipped meals in the past year.
