- Feb 18, 2001
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Inflation is "officially" at about 2% but, if you may have already noticed, food prices are increasing much faster than inflation ... and everyone needs to eat. To add insult to injury have you noticed how the size/weight/quantity of the product that you are buying has actually shrunk in size over time? One of my favorite examples is frozen peas. Just 5 years ago I could purchase a 16oz bag of frozen peas for $0.99. As of today it will cost me about $1.49 for a 12oz bag of peas. Not only has the price of the product gone up much faster than inflation but the quantity has decreased as well.
I have found this practice used across a broad range of products that I typically buy ... begrudgingly. Was reading an article this morning and finally found a label for the practice: "Shrinkflation":
http://www.bbc.com/news/business-40703866
Thoughts?
I have found this practice used across a broad range of products that I typically buy ... begrudgingly. Was reading an article this morning and finally found a label for the practice: "Shrinkflation":
http://www.bbc.com/news/business-40703866
Thoughts?