Shoppers will soon start paying more for Scott toilet paper, Huggies diapers, Kleenex and other staples.
Kimberly-Clark, the maker of such products, announced Wednesday that it would increase prices on “a majority of its North America consumer product businesses,” including toilet paper, baby and adult care items.
"The percentage increases are in the mid-to-high single digits," the Dallas-based company said in a news release. "Nearly all of the increases will be effective in late June."
The company also owns other brands like Kotex hygiene products, Cottonelle and Viva.
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Kimberly-Clark blamed rising commodity costs for the changes. But the price increase comes at an unwelcoming time for cash-strapped consumers who are still recovering from the economic impact of the coronavirus pandemic. The U.S. unemployment rate in February was 6.2%, according to the Labor Department
As more people get vaccinated and return to pre-pandemic shopping habits, analysts predict lower sales for consumer products companies, which are starting to see a flattening of sales surges sparked by last year’s stockpiling, according to CNBC.
Kimberly-Clark stock has climbed 10% in the last year. It’s current market value is at $47.6 billion, CNBC reports.
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