Parents should expect to pay more for Pampers brand diapers over the next year, Procter & Gamble said Tuesday. The consumer goods giant told investors that it will also raise prices on Charmin, Bounty and Puffs household paper products.

The company said in a statement that the average 4 percent price increase for Pampers and average 5 percent price increase for Charmin, Bounty and Puffs were part of a strategy to respond to rising commodity and foreign exchange costs. The company also reported declining sales in its baby-care segment, citing a reduction in deep discounts by retailers and declining economic conditions in parts of the Middle East, Africa and Latin America.

Chief executive David S. Taylor said that the company is facing increased competition, putting additional pressure on P&G’s already tight profit margin. “We are operating in a very dynamic environment affecting the cost of operations and consumer demand in our categories and against highly capable competitors,” Taylor said in a statement.

Companies such as are moving into territory where P&G has enjoyed less competition by introducing in-house discount brands, such as Mama Bear for baby goods that can be delivered to a family’s doorstep. (Amazon chief executive Jeffrey P. Bezos owns The Washington Post.) Amazon’s Mama Bear brand diapers in a size 3, for example, will run parents 22 cents per diaper when bought in bulk, or $35.99 for a box of 140. Pampers, on the other hand, currently cost 26 cents per diaper when purchased on Amazon, or 29 cents per diaper at big-box retailer Walmart. The cost for Pampers will go up by about a penny per diaper on average, or about $2 per month for each child in diapers.

P&G did see growth in its beauty segment over the past year, including double-digit gains in sales for skin- and personal-care products such as Olay and premium brand SK-II, reflecting industry-wide growth in beauty and cosmetics. Sales in its shaving-care business, which includes Gillette brand, lagged as net sales in the grooming segment dropped by 3 percent, facing competition from start-ups such as Dollar Shave Club, bought by P&G competitor Unilever in 2016. P&G’s feminine-care business showed modest sales growth over the prior year, attributed to growth of its Always Discreet incontinence pads.