P&G to raise prices

Procter & Gamble, the maker of Tide laundry detergent and Pantene shampoo, is likely to raise prices in China, said Zhang Qunxiang, spokesman for P&G China.

But the specific time, products and mark-ups are still being worked out, said Zhang, adding the company will keep a close watch on changes in prices of oil, petroleum derivatives and domestic materials, and adjust product prices accordingly.

This echoed the company's announcement to boost global prices by up to 16 percent owing to higher costs for plastic, energy and paper. The increases are the US-based company's steepest in at least 18 months.