“Shrinkflation” is not new; however, during the Biden presidency, it is becoming more common.
Products in the United States are shrinking without consumers taking notice. Items struggling with so-called “shrinkflation” span from toilet paper all the way to yogurt. Kleenex boxes, in particular, have gone from a small box of 65 tissues to 60 tissues. In America alone, 3.37 billion pints of yogurt are sold every year. Consumers may not have observed, but Chobani Flips yogurts have shrunk from 5.3 ounces to 4.5 ounces. Note, that prices are staying the same as products become reduced in weight and size.
“Shrinkflation” is not new; however, during the Biden presidency, it is becoming more common. Worldwide consumer price inflation was estimated to be over 7 percent in May. Based on research by a group known as S&P, price inflation is anticipated to continue through September of 2022.
As Americans walk through the grocery store, they should pay attention to the thinner rolls, lighter bags, and smaller cans. As economic conditions worsen in America, companies are looking to offset labor expenses and operate efficiently with a shortage of employees due to the coronavirus pandemic.
Recognizing that product sizes are struggling with government inflation is the first step to being a responsible consumer. The first step to fixing the problem is voting for people who understand real economics in November.
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