Can You Say ‘Shrinkflation?’ It’s Not A Good Thing
How many times has it been suggested to us to learn a new word each day to help improve our vocabulary? More than I can count. Now. how many of us actually learn a new word every day? I'm guessing, not many.
Well, I did learn a new word today. And that word is 'shrinkflation.' Now is that really a word? Apparently so. According to Investopedia, the meaning of the word is "a term made up of two separate words: shrink and inflation. The practice of reducing the size of a product while maintaining its sticker price."
Yes, that makes sense. I've noticed this practice and I'm guessing you have as well. The New York Post has noted that shrinkflation has occurred with products such as tissue paper, yogurt, coffee tins, and dish soap.
For example, the New York Post mentions that a small box of brand-name tissue used to contain 65 tissues. Now the box contains 60 tissues. A brand-name yogurt was 5.3 ounces. Now it's 4.5 ounces. But the price of these products did not lower.
Other products have also downsized, and like me, you may have noticed these changes where you shop, including drinks, chips, and snack bars. The downsizing could include smaller items in the package or fewer products in the package.
Paying the same for less, combined with the increase for many other products is certainly putting a strain on many consumers across the country. And don't even get me started on the price of gasoline. Or the fact that products that were regularly on the shelves are now hard to find.
So there, if you had not heard the word 'shrinkflation' before, congratulations, you just learn a new word today. But in this case, it's not such a good thing.
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