A sign reading “Shrinkflation, This product has seen its weight decrease and the price charged by our supplier increase” at a Carrefour supermarket in Montesson near Paris, France, on Sept. 13, 2023. (Sarah Meyssonnier/Reuters) As inflation reaccelerates and price pressures remain elevated, President Joe Biden and his administration have repeatedly claimed that a combination of shrinkflation and greedflation has contributed to today’s persistent inflationary challenges. However, one economist says how the private sector responds to inflation is not contributing to it.
Shrinkflation, the practice of reducing product packaging while keeping prices unchanged, has been prevalent throughout the U.S. marketplace, whether the size of a bag of potato chips or the number of sheets in a roll of toilet paper.
Greedflation is the concept that businesses are raising the price of their goods and services more than their costs have increased.
Recent studies have suggested that many Americans believe these practices are causing […]
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Author: The Epoch Times
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