Less cereal in the box. Smaller snack sizes. Ice cream gone missing in a container.
You’re not losing your mind. You are actually paying the same price or more these days for everyday items in your fridge and pantry but running through them more quickly because their sizes have shrunk.
The reason? A tactic known as “shrinkflation,” deployed by consumer product brands and grocery stores. The phenomenon — getting less for your money because a manufacturer has reduced the size of the product— has been going on for decades, but it typically becomes more common when companies’ costs go up like the inflation surge we are seeing today.
When costs rise, manufacturers of consumer goods look for ways to offset the increases they are paying for commodities, transportation, labor and other expenses. In response, they usually raise prices on existing products or whittle down the sizes of their goods, thereby increasing the price per unit of what you’re getting. Those increases are then passed on to shoppers via stores, who purchase products from consumer goods companies.... Read More: CNN