Consider This from NPR You're Not Imagining It; Shrinkflation Is Real
Mar 13, 2024
Alina Seljuk, an NPR business correspondent, dives into the eye-opening world of shrinkflation—the sneaky practice where companies reduce product sizes while prices stay the same, frustrating consumers. She highlights Cookie Monster’s amusing complaint about smaller cookies, stressing that the issue isn’t just a joke. Seljuk connects shrinkflation to broader economic concerns, including the rise of 'greedflation.' The discussion also explores how consumers are changing their buying habits in response to these hidden price hikes.
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Cookie Monster vs. Shrinkflation
- Cookie Monster recently complained on social media about shrinkflation, stating "Me hate shrinkflation!"
- He jokingly declared he'd have to eat double the cookies to compensate for the reduced size.
Shrinkflation: Inflation's Devious Cousin
- Shrinkflation, a newer term for an old practice, is a form of inflation where product size decreases while the price remains the same or increases.
- It's considered inflation's "devious cousin" because it hides price increases by reducing quantity.
Candy Bar Conundrum
- Candy bars historically exemplify shrinkflation, adapting to vending machine price limitations by shrinking size.
- This tactic allowed candy companies to maintain prices despite rising costs.