Consumers pay up for favorite CPG brands despite rising prices

Nestle and Procter & Gamble both posted better-than-expected results yesterday as consumers continue to pay for the companies' branded consumer packaged goods including Nescafe coffee and Gillette shaving products. "We are also seeing consumers moving to two different price points," said P&G finance chief Andre Schulten. "A group of consumers is looking for value by trading into higher transaction sizes to find lower cost per use, or lower cost per unit. And we see other consumers who are more cash-conscious, and they are very focused on cash outlay," he said.