‘KMB had highest-ever cost inflation in Q’

With the CRB index rising to its highest level in 2 years and after seeing retail price rises over the past month from Starbucks because of higher coffee prices, McDonalds in response to overall higher food commodity prices, General Mills due to higher grain prices, Goodyear and Cooper Tire because of higher rubber prices, Kimberly Clark on their earnings call today is saying that they just experienced the highest cost inflation increase in Q3 that they’ve ever seen, mostly from fiber but also from polymer resin and other oil based materials. In particular today, Cotton is at a fresh 145 year high and copper is up at a fresh 27 month high. Ahead of next week’s FOMC meeting where the Fed wants higher inflation, all will be ok as long as you don’t drive, eat, drink, wear cotton based clothes, use copper wire for any type of construction, blow your nose, diaper a kid or wipe your arse.

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