- ORIGINAL NEWS
Biden calls on snack makers to stop ‘shrinkflation’ rip-offs. Here’s how to spot downsized grocery store products
- SUMMARY
President Joe Biden recently expressed concerns about shrinkflation, a practice where manufacturers reduce the quantity or size of products while keeping prices the same or even increasing them.
This trend has been observed in various products like sports drinks, snacks, and ice cream.
Senator Bob Casey also spoke out against shrinkflation, highlighting that household paper products, snacks, and household cleaning products were notably affected.
The President and Senator encouraged manufacturers to discontinue this tactic, which often leads consumers to pay more for less.
Consumers can combat this issue by staying aware of product changes, comparing net weights, and exploring alternative brands that haven’t reduced sizes.
While writing to manufacturers expressing complaints may not lead to immediate changes, it raises awareness of the issue and might result in companies offering coupons to affected consumers.
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“The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or weight while their prices stay the same or increase — is a “rip off,” Biden said.”
“”Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won’t notice,” said Biden, who called for the companies to put a stop to the practice.”
“Shrinkflation is showing up in subtle ways as sports drinks get smaller, bags of snacks have fewer chips and ice cream cartons shrink in size, Biden noted.”
“The American public is tired of being played for suckers,” Biden said.”
“These tactics tend to become more prevalent during times of high inflation, Dworsky said.”
“As prices on grocery store shelves and elsewhere have shot up, many consumers are more sensitive now to how much they are getting for their money.”
“Household paper products saw the biggest jump, with a 10.3% measured price increase attributable to shrinkflation, according to Casey’s report, based on data from the U.S. Bureau of Labor Statistics.”
“Snacks were the next category, with a 9.8% spike attributable to shrinkflation; followed by household cleaning products, 7.3%; coffee, 7.2%; and candy and chewing gum, and ice cream and related products, each with 7%.”