The Sneaky Way Companies Are Trying to Disguise Inflationary Pricing and What You Can Do to Combat It
Consumers aren’t the only ones trying to cut corners to combat inflation. It seems manufacturers are cutting back as well, reducing the amount of product in packages. According to a report on inflation in USA Today, this practice is called “Shrinkflation” and it’s happening more and more these days.
It started subtly with orange juice cartons losing a few ounces and cereal boxes getting smaller, but now shrinkflation is much more widespread. It’s being noticed in everything from toilet paper and tissues to dog food and dishwashing detergent. Making matters worse, some manufacturers are not changing the size of the packaging, so consumers don’t realize they are getting less product for the same cost — or higher cost because of rising prices.
The Consumer Federation of America says the best way to combat shrinkflation is to pay attention to unit pricing. That’s the price per ounce or per count. It’s also recommended that you comparison shop, buy store brands instead of name brands, and stock up on basics when they go on sale to help minimize the impact of inflation.
The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and this bill will ensure the long-term solvency of the Social Security program.
