April 19 Reuters Procter Gamble raised its annual core profit forecast on Friday, as it benefits from easing commodity costs and higher product prices of its cleaning and household items.

As raw material prices come down from the peaks seen during the pandemic, major consumer goods companies are seeing a relief from higher production costs.

PG said it now expects a benefit of about 900 million aftertax from favorable commodity costs for fiscal year 2024, compared with its earlier forecast of an 800 million benefit.

The consumer goods giant now expects core earnings per share to rise between 10 and 11 in fiscal 2024, above its prior forecast of 8 to 9 growth.

Thirdquarter net sales rose to 20.20 billion from 20.07 billion a year earlier, but fell short of analysts39; average expectation of 20.41 billion, according to LSEG data.

Shares of the company were marginally down in premarket trading.

PG has seen a hit to sales from weak consumer spending in its secondlargest market China, which is reeling under high youth unemployment, a sluggish property market and deflationary pressures.

This has also led to lower sales for PG39;s beauty brand, SKII, which has overshadowed gains from steady sales of dailyuse products in the United States and Europe.

PG reported overall flat volumes in the third quarter, while the average prices across its product categories rose 3.

Net income attributable to Procter Gamble rose 3.75 billion, or 1.52 per share, in the quarter ended…