Proctor and Gamble rolls back prices

April 30, 2012 5:31:01 PM PDT
In consumer news, here's something that just does not happen very often.

Prices on some of the things you buy at the grocery store are going down. It's good news for consumers in the supermarket aisles. Proctor and Gamble is rolling back prices.

The world's largest consumer products maker is hoping to gain market share by lowering prices on powdered laundry detergent, some oral care products, razor blades and dish care products.

The company's third quarter net income dropped 16 percent because it was hurt by higher costs.

Industry experts say this shows that big companies selling trusted brands can lose consumers to lower-priced rivals when they raise their prices.