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Procter & Gamble Co – ‘10-Q’ for 3/31/19 – ‘EX-101.LAB’

On:  Tuesday, 4/23/19, at 4:17pm ET   ·   For:  3/31/19   ·   Accession #:  80424-19-31   ·   File #:  1-00434

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  As Of               Filer                 Filing    For·On·As Docs:Size

 4/23/19  Procter & Gamble Co               10-Q        3/31/19   71:6.9M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        FY 1819 Q3 Jfm 10-Q                                 HTML    620K 
 2: EX-10.1     The Procter & Gamble Performance Stock Program      HTML    109K 
                Summary                                                          
 3: EX-31.1     Exhibit 31.1 Rule 13A-14(A)/15D-14(A)               HTML     30K 
                Certification Chief Executive Officer                            
 4: EX-31.2     Exhibit 31.2 Rule 13A-14(A)/15D-14(A)               HTML     30K 
                Certification Chief Executive Officer                            
 5: EX-32.1     Section 1350 Certification Chief Executive Officer  HTML     25K 
 6: EX-32.2     Section 1350 Certification-Chief Financial Officer  HTML     25K 
13: R1          Document and Entity Information                     HTML     49K 
14: R2          Consolidated Statements of Earnings                 HTML     79K 
15: R3          Condolidated Statements of Comprehensive Income     HTML     53K 
16: R4          Consolidated Balance Sheets                         HTML    123K 
17: R5          Consolidated Statements of Cash Flows               HTML    102K 
18: R6          CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY     HTML    100K 
                Consolidated Statements of Shareholders' Equity                  
                QTD                                                              
19: R7          CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY     HTML    102K 
                Consolidated Statements of Shareholders' Equity                  
                FYTD                                                             
20: R8          CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY     HTML     89K 
                Consolidated Statements of Shareholders' Equity PY               
                QTD                                                              
21: R9          CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY     HTML     89K 
                Consolidated Statements of Shareholders' Equity PY               
                YTD                                                              
22: R10         Basis of Presentation                               HTML     27K 
23: R11         New Accounting Pronouncements and Policies          HTML     40K 
24: R12         Segment Information                                 HTML    119K 
25: R13         Goodwill and Other Intangible Assets                HTML     69K 
26: R14         Earnings Per Share                                  HTML     75K 
27: R15         Share-Based Compensation and Postretirement         HTML     41K 
                Benefits                                                         
28: R16         Risk Management Activities and Fair Value           HTML    112K 
                Measurements                                                     
29: R17         Accumulated Other Comprehensive Income (Loss)       HTML     61K 
30: R18         Restructuring Program                               HTML     70K 
31: R19         Commitments and Contingencies                       HTML     29K 
32: R20         Acquisition                                         HTML     55K 
33: R21         Segment Information (Tables)                        HTML    117K 
34: R22         Goodwill and Other Intangible Assets (Tables)       HTML     64K 
35: R23         Earnings Per Share (Tables)                         HTML     74K 
36: R24         Share-Based Compensation and Postretirement         HTML     39K 
                Benefits (Tables)                                                
37: R25         Risk Management Activities and Fair Value           HTML    116K 
                Measurements (Tables)                                            
38: R26         Accumulated Other Comprehensive Income (Loss)       HTML     59K 
                (Tables)                                                         
39: R27         Restructuring Program (Tables)                      HTML     68K 
40: R28         Acquisition - Allocation of Purchase Price          HTML     38K 
                (Tables)                                                         
41: R29         Acquisition - Fair Value of Intangibles (Tables)    HTML     36K 
42: R30         Summary of Significant Accounting Policies -        HTML     34K 
                Additional Information (Details)                                 
43: R31         New Accounting Pronouncements and Policies - U.S.   HTML     42K 
                Tax Reform (Details)                                             
44: R32         Segment Information Segment Information - Sales     HTML     51K 
                (Details)                                                        
45: R33         Segment Information (Details)                       HTML     51K 
46: R34         Goodwill and Other Intangible Assets - Change in    HTML     45K 
                the Net Carrying Amount of Goodwill by Global                    
                Business Unit (Details)                                          
47: R35         Goodwill and Other Intangible Assets -              HTML     32K 
                Identifiable Intangible Assets (Details)                         
48: R36         Goodwill and Other Intangible Assets - Additional   HTML     38K 
                Information (Details)                                            
49: R37         Goodwill and Other Intangible Assets - Fair Value   HTML     34K 
                Sensitivity (Details)                                            
50: R38         Earnings Per Share (Details)                        HTML     69K 
51: R39         Earnings Per Share - Antidilutive Securities        HTML     29K 
                (Details)                                                        
52: R40         Share-Based Compensation and Postretirement         HTML     37K 
                Benefits (Details)                                               
53: R41         Risk Management Activities and Fair Value           HTML     29K 
                Measurements - Assets and Liabilities Measured on                
                A Recurring Basis (Details)                                      
54: R42         Risk Management Activities and Fair Value           HTML     45K 
                Measurements - Schedule of Derivative Instruments                
                (Details)                                                        
55: R43         Risk Management Activities and Fair Value           HTML     37K 
                Measurements - Derivative Instruments, Effect on                 
                Other Comprehensive Income (Loss) (Details)                      
56: R44         Risk Management Activities and Fair Value           HTML     28K 
                Measurements - Derivative Instruments, Effect on                 
                Other Comprehensive Income (Loss) - Additional                   
                Information (Details)                                            
57: R45         Risk Management Activities and Fair Value           HTML     32K 
                Measurements - Derivative Instruments Gain (Loss)                
                (Details)                                                        
58: R46         Risk Management Activities and Fair Value           HTML     46K 
                Measurements - Additional Information (Details)                  
59: R47         Accumulated Other Comprehensive Income (Loss) -     HTML     64K 
                Changes in Aoci and Reclassification Out of Aoci                 
                (Details)                                                        
60: R48         Accumulated Other Comprehensive Income (Loss) -     HTML     35K 
                Net of Tax Expense (Benefit) (Details)                           
61: R49         Restructuring Program - Additional Information      HTML     38K 
                (Details)                                                        
62: R50         Restructuring Program - Restructuring Reserve by    HTML     47K 
                Type of Costs (Details)                                          
63: R51         Restructuring Program - Restructuring Costs Per     HTML     42K 
                Segment (Details)                                                
64: R52         Commitments and Contingencies - Additional          HTML     29K 
                Information (Details)                                            
65: R53         Acquisition - Allocation of Purchase Price          HTML     59K 
                (Details)                                                        
66: R54         Acquisition Acquisition - Fair Value of             HTML     45K 
                Intangibles (Details)                                            
67: R55         Acquisition - Additional Information (Details)      HTML     61K 
68: R9999       Uncategorized Items - pg-20190331.xml               HTML     89K 
70: XML         IDEA XML File -- Filing Summary                      XML    127K 
69: EXCEL       IDEA Workbook of Financial Reports                  XLSX     72K 
 7: EX-101.INS  XBRL Instance -- pg-20190331                         XML   2.06M 
 9: EX-101.CAL  XBRL Calculations -- pg-20190331_cal                 XML    164K 
10: EX-101.DEF  XBRL Definitions -- pg-20190331_def                  XML    773K 
11: EX-101.LAB  XBRL Labels -- pg-20190331_lab                       XML   1.18M 
12: EX-101.PRE  XBRL Presentations -- pg-20190331_pre                XML    915K 
 8: EX-101.SCH  XBRL Schema -- pg-20190331                           XSD    131K 
71: ZIP         XBRL Zipped Folder -- 0000080424-19-000031-xbrl      Zip    191K 


‘EX-101.LAB’   —   XBRL Labels — pg-20190331_lab


This Exhibit is an XBRL XML File.


                                                                                                                                                                                
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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_98EFA06E56F1D733506C9A19F3A1881E" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StatementTable_38C0CC15A52C08BA31EC9A19F3A16782_label_en-US" xlink:label="lab_us-gaap_StatementTable_38C0CC15A52C08BA31EC9A19F3A16782" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>
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<link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_2F99BCE328D94EF010DF30B443738ACF_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_2F99BCE328D94EF010DF30B443738ACF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Indefinite-lived Intangible Assets [Axis] </link:label>
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<link:label id="lab_us-gaap_TradeNamesMember_CA4A0872813B27E85BC630B44373349F_terseLabel_en-US" xlink:label="lab_us-gaap_TradeNamesMember_CA4A0872813B27E85BC630B44373349F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Trade Names [Member] </link:label>
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<link:label id="lab_us-gaap_SegmentDomain_198450D45C5318B96C6D9A19F448271B_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain_198450D45C5318B96C6D9A19F448271B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segments [Domain] </link:label>
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<link:label id="lab_pg_BeautySegmentMember_4C4C739822194C462F4D9A19F448DF04_terseLabel_en-US" xlink:label="lab_pg_BeautySegmentMember_4C4C739822194C462F4D9A19F448DF04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Beauty </link:label>
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<link:label id="lab_pg_GroomingSegmentMember_7CC6558CB3220507F0399A19F4486C6C_terseLabel_en-US" xlink:label="lab_pg_GroomingSegmentMember_7CC6558CB3220507F0399A19F4486C6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Grooming </link:label>
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<link:label id="lab_pg_HealthCareSegmentMember_EB5D85B028C455E150189A19F448017F_terseLabel_en-US" xlink:label="lab_pg_HealthCareSegmentMember_EB5D85B028C455E150189A19F448017F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Health Care </link:label>
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<link:label id="lab_pg_FabricandHomeCareMember_095470D50E39D4F6F17C9A19F4498E6C_terseLabel_en-US" xlink:label="lab_pg_FabricandHomeCareMember_095470D50E39D4F6F17C9A19F4498E6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fabric and Home Care </link:label>
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<link:label id="lab_pg_BabyFeminineandFamilyCareSegmentMember_C79913A57608CBA1D47A9A19F449F772_terseLabel_en-US" xlink:label="lab_pg_BabyFeminineandFamilyCareSegmentMember_C79913A57608CBA1D47A9A19F449F772" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Baby, Feminine & Family Care </link:label>
<link:label id="lab_pg_BabyFeminineandFamilyCareSegmentMember_C79913A57608CBA1D47A9A19F449F772_label_en-US" xlink:label="lab_pg_BabyFeminineandFamilyCareSegmentMember_C79913A57608CBA1D47A9A19F449F772" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Baby, Feminine and Family Care Segment Member </link:label>
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<link:loc xlink:href="pg-20190331.xsd#pg_BabyFeminineandFamilyCareSegmentMember" xlink:label="loc_pg_BabyFeminineandFamilyCareSegmentMember_C79913A57608CBA1D47A9A19F449F772" xlink:type="locator"/>
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<link:label id="lab_us-gaap_CorporateMember_242C4348DB61F6D128449A19F44943EA_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateMember_242C4348DB61F6D128449A19F44943EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Corporate </link:label>
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<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_A2777492FF12182135889A19F4493CFD_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_A2777492FF12182135889A19F4493CFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information [Line Items] </link:label>
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<link:label id="lab_pg_IncomeLossFromContinuingOperationsBeforeIncomeTaxes_55464101616FFB0E6ECC9A19F44ACE3A_terseLabel_en-US" xlink:label="lab_pg_IncomeLossFromContinuingOperationsBeforeIncomeTaxes_55464101616FFB0E6ECC9A19F44ACE3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Earnings/(Loss) from Continuing Operations Before Income Taxes </link:label>
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<link:label id="lab_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC_terseLabel_en-US" xlink:label="lab_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hair Care [Member] </link:label>
<link:label id="lab_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC_label_en-US" xlink:label="lab_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Hair Care [Member] </link:label>
<link:label id="lab_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC_documentation_en-US" xlink:label="lab_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Hair Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_HairCareMember" xlink:label="loc_pg_HairCareMember_1E136628EEDF0FE287C69A19F31980FC" xlink:type="locator"/>
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<link:label id="lab_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E_terseLabel_en-US" xlink:label="lab_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Home Care [Member] </link:label>
<link:label id="lab_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E_label_en-US" xlink:label="lab_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Home Care [Member] </link:label>
<link:label id="lab_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E_documentation_en-US" xlink:label="lab_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Home Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_HomeCareMember" xlink:label="loc_pg_HomeCareMember_5C6E299342D709201AE99A19F319D96E" xlink:type="locator"/>
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<link:label id="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460_terseLabel_en-US" xlink:label="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Skin and Personal Care [Member] </link:label>
<link:label id="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460_label_en-US" xlink:label="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Skin and Personal Care [Member] </link:label>
<link:label id="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460_documentation_en-US" xlink:label="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Skin and Personal Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_SkinandPersonalCareMember" xlink:label="loc_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460" xlink:to="lab_pg_SkinandPersonalCareMember_CF3A012BFDB7F18914F39A19F3194460" xlink:type="arc"/>
<link:label id="lab_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F_terseLabel_en-US" xlink:label="lab_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Family Care [Member] </link:label>
<link:label id="lab_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F_label_en-US" xlink:label="lab_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Family Care [Member] </link:label>
<link:label id="lab_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F_documentation_en-US" xlink:label="lab_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Family Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_FamilyCareMember" xlink:label="loc_pg_FamilyCareMember_C2CCF3AFF3350D5B824C9A19F3193D5F" xlink:type="locator"/>
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<link:label id="lab_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21_terseLabel_en-US" xlink:label="lab_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Shave Care </link:label>
<link:label id="lab_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21_label_en-US" xlink:label="lab_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Shave Care [Member] </link:label>
<link:label id="lab_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21_documentation_en-US" xlink:label="lab_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Shave Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_ShaveCareMember" xlink:label="loc_pg_ShaveCareMember_E943E2EEC8C8380C0F919A19F31ACC21" xlink:type="locator"/>
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<link:label id="lab_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013_terseLabel_en-US" xlink:label="lab_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Oral Care [Member] </link:label>
<link:label id="lab_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013_label_en-US" xlink:label="lab_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Oral Care [Member] </link:label>
<link:label id="lab_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013_documentation_en-US" xlink:label="lab_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Oral Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_OralCareMember" xlink:label="loc_pg_OralCareMember_5111EB330ED8F6E8EA3B9A19F31A6013" xlink:type="locator"/>
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<link:label id="lab_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718_terseLabel_en-US" xlink:label="lab_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Feminine Care [Member] </link:label>
<link:label id="lab_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718_label_en-US" xlink:label="lab_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Feminine Care [Member] </link:label>
<link:label id="lab_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718_documentation_en-US" xlink:label="lab_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Feminine Care [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_FeminineCareMember" xlink:label="loc_pg_FeminineCareMember_70FE7F81AA0709500E249A19F31A4718" xlink:type="locator"/>
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<link:label id="lab_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE_terseLabel_en-US" xlink:label="lab_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> All Other [Member] </link:label>
<link:label id="lab_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE_label_en-US" xlink:label="lab_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> All Other [Member] </link:label>
<link:label id="lab_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE_documentation_en-US" xlink:label="lab_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> All Other [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_AllOtherMember" xlink:label="loc_pg_AllOtherMember_84C19281329A534E864B9A19F31A81AE" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfGoodwillTable_2D0726E9471E196BA24230B4441F4C84_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTable_2D0726E9471E196BA24230B4441F4C84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Goodwill [Table] </link:label>
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<link:label id="lab_pg_FabricCareAndHomeCareSegmentMember_5D8053C5D3E5C09F9F3530B4442178CA_terseLabel_en-US" xlink:label="lab_pg_FabricCareAndHomeCareSegmentMember_5D8053C5D3E5C09F9F3530B4442178CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fabric & Home Care </link:label>
<link:label id="lab_pg_FabricCareAndHomeCareSegmentMember_5D8053C5D3E5C09F9F3530B4442178CA_label_en-US" xlink:label="lab_pg_FabricCareAndHomeCareSegmentMember_5D8053C5D3E5C09F9F3530B4442178CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fabric Care And Home Care Segment Member </link:label>
<link:label id="lab_pg_FabricCareAndHomeCareSegmentMember_5D8053C5D3E5C09F9F3530B4442178CA_documentation_en-US" xlink:label="lab_pg_FabricCareAndHomeCareSegmentMember_5D8053C5D3E5C09F9F3530B4442178CA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fabric Care and Home Care Segment [Member] </link:label>
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<link:label id="lab_us-gaap_GoodwillLineItems_2B657E110BFFC64AAF1930B44421CACC_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillLineItems_2B657E110BFFC64AAF1930B44421CACC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Significant Noncash Transactions [Line Items] </link:label>
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<link:label id="lab_us-gaap_GoodwillRollForward_3C193C2E5BC89829926230B44421DA22_label_en-US" xlink:label="lab_us-gaap_GoodwillRollForward_3C193C2E5BC89829926230B44421DA22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Goodwill [Roll Forward] </link:label>
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<link:label id="lab_us-gaap_Goodwill_5F716D6E57979317DA0930B444217B94_periodStartLabel_en-US" xlink:label="lab_us-gaap_Goodwill_5F716D6E57979317DA0930B444217B94" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Goodwill at June 30, 2018 </link:label>
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<link:label id="lab_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE_terseLabel_en-US" xlink:label="lab_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Goodwill, Acquisitions and Divestitures </link:label>
<link:label id="lab_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE_label_en-US" xlink:label="lab_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Goodwill, Acquisitions and Divestitures </link:label>
<link:label id="lab_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE_documentation_en-US" xlink:label="lab_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Goodwill, Acquisitions and Divestitures </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_GoodwillAcquisitionsandDivestitures" xlink:label="loc_pg_GoodwillAcquisitionsandDivestitures_C31CFCAED8BB3D669BFA30B444225AFE" xlink:type="locator"/>
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<link:label id="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments_07003F4E9FE20F2BFAB330B44422C1D4_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments_07003F4E9FE20F2BFAB330B44422C1D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Goodwill, Translation and Other </link:label>
<link:label id="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments_07003F4E9FE20F2BFAB330B44422C1D4_label_en-US" xlink:label="lab_us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments_07003F4E9FE20F2BFAB330B44422C1D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Goodwill, Translation and Purchase Accounting Adjustments </link:label>
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<link:label id="lab_us-gaap_ScheduleOfGoodwillTextBlock_F4185139DC4B93C63F999A19F2EC2F01_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock_F4185139DC4B93C63F999A19F2EC2F01" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Goodwill [Table Text Block] </link:label>
<link:label id="lab_us-gaap_ScheduleOfGoodwillTextBlock_F4185139DC4B93C63F999A19F2EC2F01_label_en-US" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock_F4185139DC4B93C63F999A19F2EC2F01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Goodwill [Table Text Block] </link:label>
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<link:label id="lab_pg_ScheduleofPotentialImpactstoEstimatedFairValuesTableTextBlock_8FC252A45CE5E24245799A19F2ED9462_terseLabel_en-US" xlink:label="lab_pg_ScheduleofPotentialImpactstoEstimatedFairValuesTableTextBlock_8FC252A45CE5E24245799A19F2ED9462" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Potential Impacts to Estimated Fair Values [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_4A4D03B06EEA161177779A19F3D24C93_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_4A4D03B06EEA161177779A19F3D24C93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financial Statement Translation </link:label>
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<link:label id="lab_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax_EF9AE909924F343D2AC09A19F3D3E74F_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax_EF9AE909924F343D2AC09A19F3D3E74F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unrealized Gains/(Losses) on Hedges </link:label>
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<link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_38D29A20227F3D5FD2613099F9CF6487_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_38D29A20227F3D5FD2613099F9CF6487" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of Intangible Assets </link:label>
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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_38D29A20227F3D5FD2613099F9CF6487" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_BFC50F2961F04B445A483099F9D0C13B_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_BFC50F2961F04B445A483099F9D0C13B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Intangible Assets, Net (Including Goodwill) </link:label>
<link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_BFC50F2961F04B445A483099F9D0C13B_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_BFC50F2961F04B445A483099F9D0C13B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Intangible Assets, Net (Including Goodwill) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetIncludingGoodwill_BFC50F2961F04B445A483099F9D0C13B" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_2A2B420C05A51EE3396A266824A18CCE_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_2A2B420C05A51EE3396A266824A18CCE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Restructuring and Related Costs [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_2A2B420C05A51EE3396A266824A18CCE_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_2A2B420C05A51EE3396A266824A18CCE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Restructuring and Related Costs [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:label="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_2A2B420C05A51EE3396A266824A18CCE" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RestructuringCostAndReserveAxis_7C814DB5FB8CDAA733FB266824A21D51_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveAxis_7C814DB5FB8CDAA733FB266824A21D51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restructuring Type [Axis] </link:label>
<link:label id="lab_us-gaap_RestructuringCostAndReserveAxis_7C814DB5FB8CDAA733FB266824A21D51_label_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveAxis_7C814DB5FB8CDAA733FB266824A21D51" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restructuring Type [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RestructuringCostAndReserveAxis" xlink:label="loc_us-gaap_RestructuringCostAndReserveAxis_7C814DB5FB8CDAA733FB266824A21D51" xlink:type="locator"/>
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<link:label id="lab_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A_terseLabel_en-US" xlink:label="lab_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Type of Restructuring [Domain] </link:label>
<link:label id="lab_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A_label_en-US" xlink:label="lab_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Type of Restructuring [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TypeOfRestructuringDomain" xlink:label="loc_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A" xlink:to="lab_us-gaap_TypeOfRestructuringDomain_BD12E4D31FBCFF13B09A266824A2CA4A" xlink:type="arc"/>
<link:label id="lab_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Separations </link:label>
<link:label id="lab_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048_label_en-US" xlink:label="lab_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Employee Severance [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EmployeeSeveranceMember" xlink:label="loc_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048" xlink:to="lab_us-gaap_EmployeeSeveranceMember_E7CA5EE8DC2B6BDF2AB2266824A2D048" xlink:type="arc"/>
<link:label id="lab_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179_terseLabel_en-US" xlink:label="lab_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Asset-related Costs </link:label>
<link:label id="lab_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179_label_en-US" xlink:label="lab_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Asset-Related Costs [Member] </link:label>
<link:label id="lab_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179_documentation_en-US" xlink:label="lab_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Asset-Related Costs consisting of both asset write downs and accelerated depreciation in conjunction with restructuring plan. </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_AssetRelatedCostsMember" xlink:label="loc_pg_AssetRelatedCostsMember_89AA59B124B3C32E0318266824A3A179" xlink:type="locator"/>
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<link:label id="lab_us-gaap_OtherRestructuringMember_439AFE6A40288B3429E1266824A317E1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherRestructuringMember_439AFE6A40288B3429E1266824A317E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Costs </link:label>
<link:label id="lab_us-gaap_OtherRestructuringMember_439AFE6A40288B3429E1266824A317E1_label_en-US" xlink:label="lab_us-gaap_OtherRestructuringMember_439AFE6A40288B3429E1266824A317E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Restructuring [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherRestructuringMember" xlink:label="loc_us-gaap_OtherRestructuringMember_439AFE6A40288B3429E1266824A317E1" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RestructuringCostAndReserveLineItems_B32E6BF2A397AD0FFC14266824A36350_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveLineItems_B32E6BF2A397AD0FFC14266824A36350" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restructuring Cost and Reserve [Line Items] </link:label>
<link:label id="lab_us-gaap_RestructuringCostAndReserveLineItems_B32E6BF2A397AD0FFC14266824A36350_label_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveLineItems_B32E6BF2A397AD0FFC14266824A36350" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restructuring Cost and Reserve [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RestructuringCostAndReserveLineItems" xlink:label="loc_us-gaap_RestructuringCostAndReserveLineItems_B32E6BF2A397AD0FFC14266824A36350" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RestructuringReserveRollForward_21482A4A4F8F38D7E490266824A3209B_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringReserveRollForward_21482A4A4F8F38D7E490266824A3209B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restructuring Reserve [Roll Forward] </link:label>
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<link:label id="lab_us-gaap_RestructuringReserve_90BF596A53D83F3AB39F266824A4003E_periodStartLabel_en-US" xlink:label="lab_us-gaap_RestructuringReserve_90BF596A53D83F3AB39F266824A4003E" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> 6/30/2018 </link:label>
<link:label id="lab_us-gaap_RestructuringReserve_90BF596A53D83F3AB39F266824A4003E_label_en-US" xlink:label="lab_us-gaap_RestructuringReserve_90BF596A53D83F3AB39F266824A4003E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restructuring Reserve </link:label>
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<link:label id="lab_us-gaap_RestructuringCharges_D5E3CB19143C7F54D643266824A837E2_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringCharges_D5E3CB19143C7F54D643266824A837E2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restructuring Charges </link:label>
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<link:label id="lab_us-gaap_RestructuringReserve_F03E7C1C47F6DC486388266824AEF26D_periodEndLabel_en-US" xlink:label="lab_us-gaap_RestructuringReserve_F03E7C1C47F6DC486388266824AEF26D" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> 3/31/2019 </link:label>
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<link:label id="lab_us-gaap_LongTermDebtFairValue_A9874CB1DAE4A52A492C4517B6B361D5_label_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue_A9874CB1DAE4A52A492C4517B6B361D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Fair Value </link:label>
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<link:label id="lab_us-gaap_AssetsAbstract_1D2B1B1D499CC24DAFC99A19F4853D2D_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_1D2B1B1D499CC24DAFC99A19F4853D2D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets [Abstract] </link:label>
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<link:label id="lab_us-gaap_AssetsCurrentAbstract_BC16D56E9005A82C1E179A19F4851937_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsCurrentAbstract_BC16D56E9005A82C1E179A19F4851937" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current Assets </link:label>
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<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_DAB0808C1C78FC1FF4719A19F486E17F_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_DAB0808C1C78FC1FF4719A19F486E17F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_DAB0808C1C78FC1FF4719A19F486E17F_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_DAB0808C1C78FC1FF4719A19F486E17F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents, at Carrying Value </link:label>
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<link:label id="lab_us-gaap_AvailableForSaleSecuritiesCurrent_5835C26D2E73D2664B969A19F4863745_label_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesCurrent_5835C26D2E73D2664B969A19F4863745" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Available-for-sale Securities, Current </link:label>
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<link:label id="lab_us-gaap_ShareBasedCompensation_1E298FB2B44AF315AECB9A19F333FB43_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_1E298FB2B44AF315AECB9A19F333FB43" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Share-based Compensation Expense </link:label>
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<link:label id="lab_us-gaap_GainLossOnDispositionOfAssets1_74F2BCE141E921005EDD9A19F334D614_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfAssets1_74F2BCE141E921005EDD9A19F334D614" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Disposition of Assets </link:label>
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<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_7D9F41FD377192A904509A19F3342AA4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_7D9F41FD377192A904509A19F3342AA4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Accounts Receivable </link:label>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_A7CED99B6ED8A4957CCD9A19F335175B_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_A7CED99B6ED8A4957CCD9A19F335175B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investing Activities </link:label>
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<link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_A163C7D5BAA201594F709A19F33668DC_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_A163C7D5BAA201594F709A19F33668DC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Capital Expenditures </link:label>
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<link:label id="lab_us-gaap_ProceedsFromSaleOfProductiveAssets_89C4A69EC15D13FBC57A9A19F336F06D_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfProductiveAssets_89C4A69EC15D13FBC57A9A19F336F06D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from Asset Sales </link:label>
<link:label id="lab_us-gaap_ProceedsFromSaleOfProductiveAssets_89C4A69EC15D13FBC57A9A19F336F06D_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfProductiveAssets_89C4A69EC15D13FBC57A9A19F336F06D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Sale of Productive Assets </link:label>
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<link:label id="lab_us-gaap_PaymentsForProceedsFromBusinessesAndInterestInAffiliates_298681A26A287F2E92249A19F3366CAA_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromBusinessesAndInterestInAffiliates_298681A26A287F2E92249A19F3366CAA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Acquisitions, Net of Cash Acquired </link:label>
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<link:label id="lab_us-gaap_PaymentsToAcquireShortTermInvestments_C14F939B580357E0B3179A19F337B44D_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireShortTermInvestments_C14F939B580357E0B3179A19F337B44D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Purchases of Short-term Investments </link:label>
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<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments" xlink:label="loc_us-gaap_PaymentsToAcquireShortTermInvestments_C14F939B580357E0B3179A19F337B44D" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ProceedsFromSaleOfShortTermInvestments_211F6C5C4884AA6632919A19F3379ADE_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfShortTermInvestments_211F6C5C4884AA6632919A19F3379ADE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from Sales of Short-term Investments </link:label>
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<link:label id="lab_us-gaap_PaymentsForProceedsFromInvestments_89B8E26D8E4555515FF59A19F337FF6A_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromInvestments_89B8E26D8E4555515FF59A19F337FF6A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Change in Other Investments </link:label>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_D4D9B93F442AD638AE089A19F33772B7_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_D4D9B93F442AD638AE089A19F33772B7" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total Investing Activites </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_D4D9B93F442AD638AE089A19F33772B7_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_D4D9B93F442AD638AE089A19F33772B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities </link:label>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_5D8534644A6E7CCA08B69A19F33700BF_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_5D8534644A6E7CCA08B69A19F33700BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Financing Activities </link:label>
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<link:label id="lab_us-gaap_PaymentsOfDividends_ABEB47BF81ABCA8273E59A19F3377BC0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_ABEB47BF81ABCA8273E59A19F3377BC0" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Dividends to Shareholders </link:label>
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<link:label id="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_B4DBB2A65C8CC7989E039A19F3386299_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt_B4DBB2A65C8CC7989E039A19F3386299" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in Short-term Debt </link:label>
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<link:label id="lab_us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt_3DDD5A643BF280FBB80F9A19F3380BA9_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfOtherLongTermDebt_3DDD5A643BF280FBB80F9A19F3380BA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additions to Long-term Debt </link:label>
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<link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_D83B6505B6F9EFF631389A19F338B3E1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_D83B6505B6F9EFF631389A19F338B3E1" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Treasury Stock Purchases </link:label>
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<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_E3DFB677B30E83EE07329A19F457DB53_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_E3DFB677B30E83EE07329A19F457DB53" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Derivative Instruments [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsTextBlock_E3DFB677B30E83EE07329A19F457DB53" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] </link:label>
<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock_CF43D8468ACDC32E97D59A19F4572AA5" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative Instruments, Gain (Loss) [Table Text Block] </link:label>
<link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments, Gain (Loss) [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_DD741ECF77C88122AED19A19F45859DE" xlink:type="arc"/>
<link:label id="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916_terseLabel_en-US" xlink:label="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Risk Management And Fair Value [Text Block] </link:label>
<link:label id="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916_label_en-US" xlink:label="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Risk Management And Fair Value [Text Block] </link:label>
<link:label id="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916_documentation_en-US" xlink:label="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents the disclosure of all significant concentrations of risk, fair value measurements of financial and non-financial assets and liabilities, and derivative instruments. </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_RiskManagementAndFairValueTextBlock" xlink:label="loc_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916" xlink:to="lab_pg_RiskManagementAndFairValueTextBlock_D9BDE6208EB441CDA7909A19F4E1A916" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] </link:label>
<link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66" xlink:to="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_5811DAB7C6484883C97E9A19F33F9F66" xlink:type="arc"/>
<link:label id="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F_terseLabel_en-US" xlink:label="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Selling, General and Administrative Expense </link:label>
<link:label id="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F_label_en-US" xlink:label="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Selling, General and Administrative Expense [Member] </link:label>
<link:label id="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F_documentation_en-US" xlink:label="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The allocation (or location) of expense to (in) general and administrative expense including allocations to selling and marketing expense. </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_SellingGeneralAndAdministrativeExpenseMember" xlink:label="loc_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F" xlink:to="lab_pg_SellingGeneralAndAdministrativeExpenseMember_0E87013E9DCD2050A0D29A19F4ABB64F" xlink:type="arc"/>
<link:label id="lab_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cost of Products Sold </link:label>
<link:label id="lab_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27_label_en-US" xlink:label="lab_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cost of Goods, Segment [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CostOfGoodsSegmentMember" xlink:label="loc_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27" xlink:to="lab_us-gaap_CostOfGoodsSegmentMember_DB4D8FE85F1C89C39EAE9A19F4AB5A27" xlink:type="arc"/>
<link:label id="lab_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0_terseLabel_en-US" xlink:label="lab_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restructuring and Related Cost, Amounts Historically Incurred </link:label>
<link:label id="lab_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0_label_en-US" xlink:label="lab_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restructuring and Related Cost, Amounts Historically Incurred </link:label>
<link:label id="lab_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0_documentation_en-US" xlink:label="lab_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Restructuring and Related Cost, Amounts Historically Incurred </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_RestructuringandRelatedCostAmountsHistoricallyIncurred" xlink:label="loc_pg_RestructuringandRelatedCostAmountsHistoricallyIncurred_7449667E75A5032D31CA9A19F4ADB2E0" xlink:type="locator"/>
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<link:label id="lab_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C_terseLabel_en-US" xlink:label="lab_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restructuring and Related Cost, Number of Severance Packages Executed </link:label>
<link:label id="lab_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C_label_en-US" xlink:label="lab_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restructuring and Related Cost, Number of Severance Packages Executed </link:label>
<link:label id="lab_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C_documentation_en-US" xlink:label="lab_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Restructuring and Related Cost, Number of Severance Packages Executed </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted" xlink:label="loc_pg_RestructuringandRelatedCostNumberofSeverancePackagesExecuted_336453056FFA53ADEC5C9A19F4AD0F2C" xlink:type="locator"/>
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<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_A9BDC6C0972D1134277F9A19F301C76C_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_A9BDC6C0972D1134277F9A19F301C76C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Text Block] </link:label>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_A9BDC6C0972D1134277F9A19F301C76C_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_A9BDC6C0972D1134277F9A19F301C76C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Text Block] </link:label>
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<link:label id="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESTable_9F182C55B7CA116DB4F69A19F373D20C_terseLabel_en-US" xlink:label="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESTable_9F182C55B7CA116DB4F69A19F373D20C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Table] </link:label>
<link:label id="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESTable_9F182C55B7CA116DB4F69A19F373D20C_label_en-US" xlink:label="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESTable_9F182C55B7CA116DB4F69A19F373D20C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Table] </link:label>
<link:label id="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESTable_9F182C55B7CA116DB4F69A19F373D20C_documentation_en-US" xlink:label="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESTable_9F182C55B7CA116DB4F69A19F373D20C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Table] </link:label>
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<link:label id="lab_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC_terseLabel_en-US" xlink:label="lab_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Goodwill [Axis] </link:label>
<link:label id="lab_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC_label_en-US" xlink:label="lab_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Goodwill [Axis] </link:label>
<link:label id="lab_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC_documentation_en-US" xlink:label="lab_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Goodwill [Axis] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_GoodwillAxis" xlink:label="loc_pg_GoodwillAxis_42C07D6577C2D6DE53359A19F373A4AC" xlink:type="locator"/>
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<link:label id="lab_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304_terseLabel_en-US" xlink:label="lab_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Goodwill [Domain] </link:label>
<link:label id="lab_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304_label_en-US" xlink:label="lab_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Goodwill [Domain] </link:label>
<link:label id="lab_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304_documentation_en-US" xlink:label="lab_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> [Domain] for Goodwill [Axis] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_GoodwillDomain" xlink:label="loc_pg_GoodwillDomain_CCC953F8A7A7A4941F529A19F373E304" xlink:type="locator"/>
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<link:label id="lab_us-gaap_GoodwillMember_4211FD067B42A35FD8D39A19F3737B66_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillMember_4211FD067B42A35FD8D39A19F3737B66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Goodwill </link:label>
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<link:label id="lab_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA_terseLabel_en-US" xlink:label="lab_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Potential Impacts to Estimated Fair Value [Axis] </link:label>
<link:label id="lab_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA_label_en-US" xlink:label="lab_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Potential Impacts to Estimated Fair Value [Axis] </link:label>
<link:label id="lab_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA_documentation_en-US" xlink:label="lab_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Potential Impacts to Estimated Fair Value [Axis] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_PotentialImpactstoEstimatedFairValueAxis" xlink:label="loc_pg_PotentialImpactstoEstimatedFairValueAxis_9E0E24D3191B53A9DC479A19F374F1FA" xlink:type="locator"/>
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<link:label id="lab_pg_PotentialImpactstoEstimatedFairValueDomain_3341747B46B0AF6145E79A19F3748A8E_terseLabel_en-US" xlink:label="lab_pg_PotentialImpactstoEstimatedFairValueDomain_3341747B46B0AF6145E79A19F3748A8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Potential Impacts to Estimated Fair Value [Domain] </link:label>
<link:label id="lab_pg_PotentialImpactstoEstimatedFairValueDomain_3341747B46B0AF6145E79A19F3748A8E_label_en-US" xlink:label="lab_pg_PotentialImpactstoEstimatedFairValueDomain_3341747B46B0AF6145E79A19F3748A8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Potential Impacts to Estimated Fair Value [Domain] </link:label>
<link:label id="lab_pg_PotentialImpactstoEstimatedFairValueDomain_3341747B46B0AF6145E79A19F3748A8E_documentation_en-US" xlink:label="lab_pg_PotentialImpactstoEstimatedFairValueDomain_3341747B46B0AF6145E79A19F3748A8E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> [Domain] for Potential Impacts to Estimated Fair Value [Axis] </link:label>
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<link:label id="lab_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9_terseLabel_en-US" xlink:label="lab_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 25 bps Increase Discount Rate [Member] </link:label>
<link:label id="lab_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9_label_en-US" xlink:label="lab_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> 25 bps Increase Discount Rate [Member] [Member] </link:label>
<link:label id="lab_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9_documentation_en-US" xlink:label="lab_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> 25 bps Increase Discount Rate [Member] </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_A25bpsIncreaseDiscountRateMemberMember" xlink:label="loc_pg_A25bpsIncreaseDiscountRateMemberMember_8277446D1F69A44453EB9A19F374FBB9" xlink:type="locator"/>
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<link:label id="lab_pg_A25bpsDecreaseLongTermGrowthMember_6391A2058637B3F96E039A19F3757D3F_terseLabel_en-US" xlink:label="lab_pg_A25bpsDecreaseLongTermGrowthMember_6391A2058637B3F96E039A19F3757D3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> 25 bps Decrease Long-Term Growth [Member] </link:label>
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<link:label id="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESLineItems_23717591317DA9B823549A19F376F845_terseLabel_en-US" xlink:label="lab_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESLineItems_23717591317DA9B823549A19F376F845" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> SCHEDULE OF POTENTIAL IMPACTS TO ESTIMATED FAIR VALUES [Line Items] </link:label>
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<link:loc xlink:href="pg-20190331.xsd#pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESLineItems" xlink:label="loc_pg_SCHEDULEOFPOTENTIALIMPACTSTOESTIMATEDFAIRVALUESLineItems_23717591317DA9B823549A19F376F845" xlink:type="locator"/>
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<link:label id="lab_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896_terseLabel_en-US" xlink:label="lab_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percent Change in Estimated Fair Value </link:label>
<link:label id="lab_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896_label_en-US" xlink:label="lab_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Percent Change in Estimated Fair Value </link:label>
<link:label id="lab_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896_documentation_en-US" xlink:label="lab_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Percent Change in Estimated Fair Value </link:label>
<link:loc xlink:href="pg-20190331.xsd#pg_PercentChangeinEstimatedFairValue" xlink:label="loc_pg_PercentChangeinEstimatedFairValue_93F9AD685F1672A3A11F9A19F377F896" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock_6F2FDE23011BCC9E7FC89A19F2F0034B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock_6F2FDE23011BCC9E7FC89A19F2F0034B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Restructuring Reserve by Type of Cost [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_DerivativeTable_B04146D95CCC7411E83E31522E7205B7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable_B04146D95CCC7411E83E31522E7205B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative [Table] </link:label>
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