And this has enabled us to deliver 11 straight quarters with organic sales growth in line with or above our long-term target of 3% to 5%.
Our net sales grew 6.5% in the quarter, driven by 4.5% organic sales growth and a 2% benefit from foreign exchange.
We grew volume 1.5% in the quarter.
Pricing grew 3% in the quarter, up sequentially from Q2, despite a more difficult 4.5% comparison as we continued to layer in new pricing to try to offset accelerating raw materials costs.
Our gross margin was down 180 basis points in the quarter.
Pricing was a 110 basis point benefit to gross margin, while raw materials were a 510 basis point headwind, despite a slight benefit from transactional foreign exchange.
Productivity was favorable by 220 basis points.
On a GAAP and Base Business basis, our SG&A was up 50 basis points on a percent of sales, driven by significant increase in logistics costs as advertising was up on a dollar basis, but flat on a percent of sales basis.
For the third quarter, on a GAAP basis, our operating profit was down 5% year-over-year, while it was down 3% on a Base Business basis.
Our earnings per share was down 7% on a GAAP basis and up 3% on a Base Business basis.
Net sales in North America grew 1% in the third quarter with organic sales growth of 0.5% and 50 basis points of favorable foreign exchange.
Volumes were flat in the quarter, despite a negative nearly 400 basis point impact from lower liquid hand soap volumes, while pricing was slightly favorable.
Latin America net sales were up 11% with 8% organic sales growth and a 300 basis point benefit from foreign exchange.
Volume was plus-2.5% in the quarter, while pricing was up 5.5%.
Europe net sales grew 1% in the quarter with organic sales minus-1% and foreign exchange adding 2%.
Volume was down 1% and pricing was flat.
Asia-Pacific net sales grew 1% and organic sales declined 0.5% in the quarter, with volume down slightly and pricing and foreign exchange, both slightly positive.
Africa/Eurasia net sales grew 1% in the quarter with organic -- with an organic sales decline of 1% lapping double-digit organic growth in the year-ago period, more than offset by a 2% positive impact from foreign exchange.
Volumes were minus-4.5% while pricing was plus-3.5%.
Hill's strong growth continued in the third quarter with 20% net sales growth and 19% organic sales growth with strong growth in both emerging and developed markets.
We still expect organic sales growth for the year to be within our 3% to 5% long-term target range.
All in, we still expect net sales to be up 4% to 7%.
Our tax rate is now expected to be between 22% and 23% for the year on both a GAAP and Base Business basis.
While lapping our most difficult comparisons in over a decade, we delivered organic sales growth at the high end of our long-term target range of 3% to 5%.
Pet Nutrition organic sales growth was up 19% in the quarter against an 11% comparison and is now up 14% year-to-date through quarter three.
Hill's goal of ending pet obesity, where a study show over 50% of pets are overweight, is the impetus for our Hill's master brand campaign.
We've implemented new media buying strategy to drive efficiencies, both online and offline, and launched a 4-tier training program to enable 14,000 of our employees to help drive our digital strategy.
Our Innovation calendar for 2022 will show an increase in the percentage of innovation that is breakthrough and transformational.
We've announced our new sustainability and social impact strategy this year, which includes 11 new targets and actions in areas like zero-waste, climate change, using less plastic, as well as Bright Smiles, Bright Futures and our diversity, equity and inclusion efforts.

Summary:
Our net sales grew 6.5% in the quarter, driven by 4.5% organic sales growth and a 2% benefit from foreign exchange.
Our Innovation calendar for 2022 will show an increase in the percentage of innovation that is breakthrough and transformational.