{"id":601377,"date":"2021-07-23T15:51:13","date_gmt":"2021-07-23T19:51:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=601377"},"modified":"2021-07-23T15:51:29","modified_gmt":"2021-07-23T19:51:29","slug":"theyre-getting-robbed-shrinkflation-hits-consumers-while-biden-inflation-roars","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/theyre-getting-robbed-shrinkflation-hits-consumers-while-biden-inflation-roars\/","title":{"rendered":"\u2018They\u2019re Getting Robbed\u2019: \u2018Shrinkflation\u2019 Hits Consumers While Biden Inflation Roars"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftheyre-getting-robbed-shrinkflation-hits-consumers-while-biden-inflation-roars%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=601377&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-183061967.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>As inflation has risen in recent months, customers are noticing another trend, \u201cshrinkflation,\u201d in which companies package their merchandise in such a way that they sell less product while maintaining the same price.<\/p>\n<p>Steve Reed, an economist at the Bureau of Labor Statistics, explained the term to <a href=\"https:\/\/www.goodmorningamerica.com\/news\/story\/shrinkflation-avoid-sneaky-price-hikes-78148357\">ABC News<\/a>: \u201c\u2019Shrinkflation\u2019 is a term used to describe implicitly increasing the price of an item by slightly decreasing the amount or quantity in a package \u2026 the conventional explanation would be that consumers may not notice small decreases in size or quantity or react less negatively to them compared to an explicitly higher price.\u201d<\/p>\n<p>\u201cMany of these size changes are subtle, like making candy bars sold in multipacks smaller than ones being sold individually, or changing the shape of their products so you can barely notice the difference in weight,\u201d <a href=\"https:\/\/www.businessinsider.com\/shrinkflation-grocery-stores-pringles-cereal-candy-bars-chocolate-toilet-paper-cadbury-2021-7\">Business Insider<\/a> reported. \u201cThough manufacturers have always sought to cut costs and the trend is nothing new, it seems to have accelerated in recent months, as companies face sharply higher prices for raw materials and seek creative ways to cut costs,\u201d <a href=\"https:\/\/www.washingtonpost.com\/business\/2021\/06\/01\/package-sizes-shrink-inflation\/\">The Washington Post<\/a> reported in June.<\/p>\n<p>Some examples of products whose packaging has changed: Walmart Great Value Paper Towels kept the price the same while reducing 168 sheets per roll to only 120; Frito-Lay\u2019s regular bags of Dorito\u2019s shrank from 9.75 ounces to 9.25 ounces; General Mills shrank its \u201cfamily size\u201d boxes from 19.3 ounces to 18.1 ounces; Hershey\u2019s Kisses diminished roughly two ounces from an 18-ounce pack.<\/p>\n<p>One person commented on a Reddit thread dealing with the subject of \u201cshrinkflation,\u201d \u201cI am aware that these devious tactics have transpired for millennium; I remember when someone did an expose on the size of paper towel packages in 1975 compared to the present package so I am sensitive to shrinkflation. It\u2019s an outrage and, sadly, nothing ever gets done to address this problem. Yes, I agree, most consumers are na\u00efve or lack the patience or common sense that they\u2019re getting robbed.\u201d<\/p>\n<p>Consumer advocate Edgar Dworsky, who <a href=\"https:\/\/www.consumerworld.org\/pages\/edgar.htm\">founded<\/a> Consumer World in 1995 and ConsumerReporters.net in 2013, told&nbsp;<a href=\"https:\/\/www.goodmorningamerica.com\/news\/story\/shrinkflation-avoid-sneaky-price-hikes-78148357\">Good Morning America<\/a>, \u201cConsumers are price conscious \u2014 they\u2019ll spot that price increase \u2014 but they\u2019re not net-weight conscious. If you ask someone how many ounces is in this jar of mayonnaise, or in the cereal box you buy, they\u2019re going to shrug their shoulders. That\u2019s kind of how manufacturers take advantage because you don\u2019t have those sizes memorized. So what consumers can do is they have to become net-weight conscious.\u201d<\/p>\n<p>He told The Washington Post of manufacturers, \u201cDo we raise the price knowing consumers will see it and grumble about it? Or do we give them a little bit less and accomplish the same thing? Often it\u2019s easier to do the latter.\u201d<\/p>\n<p>General Mills CEO Jeff Harmening <a href=\"https:\/\/www.wsj.com\/articles\/general-mills-warns-of-inflation-readies-for-shifting-consumer-behavior-11625066446\">admitted<\/a> in late June, \u201cConsumers see costs going up all around them, not just at the grocery store, but with automobiles, at restaurants. No one wants to increase prices, but we\u2019ve had to. \u2026 We are ending one period of significant consumer disruption only to start another.\u201d<\/p>\n<p><span>Earlier this month, officials <a href=\"https:\/\/dailywire.com\/news\/after-another-record-inflation-report-the-fed-will-not-taper-monetary-policy\/\">revealed<\/a> that United States inflation had its greatest monthly hike since 2008.&nbsp;<\/span>As&nbsp;<a href=\"https:\/\/www.dailywire.com\/news\/watch-biden-says-experts-believe-inflation-is-only-temporary\">The Daily Wire<\/a> reported, American consumers\u2019 expectations for inflation \u2014 as officially measured by the Federal Reserve Bank of New York \u2014 have reached record highs. The Survey of Consumer Expectations reveals that median one-year inflation forecasts among consumers climbed to 4.8% in June \u2014 a 0.8% increase since last month alone. In January, February, March, April, and May, one-year expectations were 3.0%, 3.1%, 3.2%, 3.4%, and 4.0%, respectively.\u201d<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As inflation has risen in recent months, customers are noticing another trend, \u201cshrinkflation,\u201d in which companies package their merchandise in such a way that they sell less product while maintaining &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-601377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/601377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=601377"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/601377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=601377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=601377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=601377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}