U.S. consumer is looking well enough to withstand price hikes from P&G

For now, the U.S. consumer is looking well enough to withstand inflation-driven price increases on things like Tide detergent and Head Shoulders shampoo from consumer products king P&G.

The price increases that we've put into the market just recently have been reflected in the shelf only about a month, so it's a little bit early to tell, I feel good based on the strength of the consumer, the strength of our offerings, and their superiority within their categories, P&G Vice Chairman Jon Moeller told Yahoo Finance Live. We have products available at different price points for consumers with different needs and a very, very strong innovation program supporting all of it. David Taylor will succeed Moeller as P&G's CEO on Nov. 1.

On Tuesday, P&G reported production gains in all five of its business lines for its first quarter. Is market share grew? Sales rose faster than volume in all segments, reflecting P&G's recent price increases and consumers not balking too much at the hikes.

What is the fiscal first quarter of P&G compared to Wall Street estimates?

P&G shares fell slightly in pre-market trading Tuesday despite the earnings beat as traders likely fretted two elements to the quarter. Beauty segment sales fell below analyst estimates. Meanwhile, P&G lifted its Fiscal Year inflation outlook to the demonization of $2.1 billion from previously $1.9 bill.

Moeller says inflation in commodities and transportation remain major headwinds.

It is a significant inflation cycle. As opposed to prior cycles, we're in a better place from a product superiority perspective and are in a better place from cost productivity standpoint. Over the last decade, you've built those muscles; they are always going to stand us in good place. We see this as a bottom line patch from a bottom line perspective for a period of time, but a patch we can continue to grow through and invest walking forward to opportunities, not stepping back, Moeller said.

Brian Sozzi is an editor-at - large and anchor at Yahoo Finance. Follow Sozzi on Twitter and LinkedIn.