Shrinkflation and Skimpflation: The New Realities of Inflation

The podcast episode discusses the concepts of shrinkflation and skimpflation, which have emerged as new terms in response to the complicated state of the economy. Shrinkflation refers to the practice of reducing the size or quantity of a product while keeping the price the same, such as reducing the weight of a bag of chips while maintaining the same packaging size. Skimpflation, on the other hand, involves swapping out premium ingredients for cheaper alternatives to cut costs while maintaining the same price. These practices are prevalent in various industries, including food, retail, and fashion. The podcast highlights the implications of these adjustments for consumers' pocketbooks and emphasizes the importance of being aware of these new realities of inflation.