A quick look at recent updates from Unilever (NYSE: UL), Procter & Gamble (NYSE: PG), and Clorox (NYSE: CLX) can offer some insight. Still, P&G's focus on innovation helps explain why, of this trio, it was able to increase prices 5% across its business and get customers to shift toward higher-cost items at the same time, adding another 200 basis points to organic sales growth. Pay attention to the price hikes There's no question that inflation is pretty tough right now, with companies across the board working diligently to offset the hit.