Procter & Gamble has lifted profit margins for the first time in two years after the world’s largest maker of household goods pushed up prices for consumers in recent months at a faster pace than its own expenses rose.
But executives at the consumer goods bellwether countered the notion they were determined to boost profitability at shoppers’ expense — a phenomenon known as “greedflation” — and cautioned there was “no broad-based relief” in input costs.
Results on Friday from the US-based company showed prices across its portfolio of consumer products, which include Fairy washing-up liquid, Oral-B toothbrushes and Pampers nappies, rose about a tenth last quarter.
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