Consumers may be feeling the effects of global energy disruptions not only at the pump but also on laundry day.
Phatak said the cost increases would be between 2.7% and 3.3% this year because of inflation and other factors. The company expects full-year cost inflation to be between 750 million and 900 million euros ($876 million to $1.05 billion), about 350 million to 500 million euros ($409.5 million to $586 million) higher than initial expectations. These estimates assume the cost of crude oil remains at about 100 euros or $115 per barrel. Price increases will not significantly affect the U.S., according to the company.
“The Middle East crisis has created uncertainties and has made the outlook a bit challenging,” Phatak said. “Inflation for us is just not one number. While there is crude and everyone really anchors around crude, it is complex because there are many crude-linked derivatives.”
