Salem Radio Network News Tuesday, June 15, 2021

Business

P&G says commodity, freight costs to bite this fiscal year

(Reuters) – Procter & Gamble Co’s freight and commodity costs have amounted to around $600 million after tax so far this fiscal year, its chief financial officer said at a conference on Thursday.

The company had previously said it expected more than $200 million in freight costs and about $125 million in commodity costs after tax for the fiscal year ended May 2021.

(This story corrects first paragraph and headline to remove reference to costs being higher than prior expectations)

(Reporting by Siddharth Cavale in Bengaluru; Editing by Aditya Soni)

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