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

By Reuters

(Corrects first paragraph and headline to remove reference to costs being higher than prior expectations)

-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.