We all feel inflation in our wallets when we go to fill up our gas tanks.
Some snack companies are reducing the amount of product to combat rising costs.
Why are my snacks getting shorted?
Most everyone has noticed or felt the rise in cost of gas and groceries since the pandemic. The current inflation rate is the highest we’ve seen in four decades. Consumers have been very disappointed to find out that companies are reducing the amount of product in each package. Read more about it here.
Inflation is currently up 7.9%. The last time inflation was nearly this high was January 1982.
What products am I getting less of?
When inflation rises, “shrinkflation” is a common practice among companies. This means that they reduce the items in size, amount, or quantity while keeping the price the same in order to increase profits.
Consumer advocate Edgar Dworsky published a complication of products that are shrinking.
When inflation is so high, companies are faced with choices. In order to still profit they will have to either directly raise the price, take some product out, or reformulate the product with less expensive ingredients.
One item experiencing notable shrinkflation is Charmin toilet paper. They have reduced the number of sheets on each roll of toilet paper.
Doritos are another offender. Each bag used to weigh 9.75 ounces but now only weighs 9.25 ounces. That equates to about five less chips per bag.
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