Amid the backdrop of a flourishing U.S. economy, characterised by rising stock prices, job growth, and falling inflation rates, a peculiar phenomenon is troubling many Americans: “shrinkflation.”
This term refers to the practice of maintaining product prices while reducing the quantity or quality of the item, and it is becoming increasingly prevalent in various sectors, both online and offline.
However, the Consumer Price Index fails to account for this subtle shift in the economic landscape.
Shrinkflation is not limited to just the grocery aisle – it has permeated nearly every facet of consumer life.
Less value
While Americans may still be paying similar prices as they did a year ago, they often receive less value for their money.
One example of this can be seen in airline fares, which the Labor Department’s consumer-price index reported as having fallen by 9.4% in…
