Procter & Gamble Co. says it will cut prices on some of its products and add lower-tier products to counter consumer trade­down to cheaper brands after its fourth-quarter profit fell 18 per cent.

 

Sales dropped across P&G’s portfolio, but particularly in discretion­ary areas such as Pringles snacks, Braun electric shavers, Oral-B power toothbrushes and Duracell batteries.