Washington D.C. – Ahead of Mother’s Day, government watchdog Accountable.US released a new analysis of the increased prices and profits of ten major corporations, including Procter & Gamble, Johnson & Johnson, and Kimberly-Clark, that specialize in consumer goods needed by mothers, parents, and babies. The research found that these companies saw their profits soar by an additional $18 billion to a total of over $69 billion, and rewarded shareholders with over $69 billion in stock buybacks and dividends in their 2021 fiscal years. 

“As a Mom, I find it galling that corporations can keep a straight face about supporting families while they hike up prices on every child care product imaginable from diapers to baby formula. As women, especially women of color, navigate a fragile economic recovery, corporations can’t claim to be allies this Mother’s Day as they unapologetically increase prices on essential goods that working families need to survive,” said Liz Zelnick, spokesperson for Accountable.US. “Once again, major corporations are insulting the intelligence of their consumers by pretending they have no choice but to raise their prices when in reality they’re reporting billions in extra profits and shareholder handouts. If corporations truly want to practice what they preach, they can start by keeping their prices stable on household staples rather than use their higher prices to pad their pockets at the expense of struggling families.” 

The latest report follows Accountable.US’ previous research over the last several months on how clear pandemic profiteering and corporate greed from big oil, meat packing, trucking, retail and railroad companies are making inflation/supply chain problems worse for everyday consumers.