CHARLOTTE, N.C. — The federal government is pushing to make "shrinkflation" illegal in the U.S. as American consumers deal with the ongoing impacts of inflation on the economy.
Shrinkflation is the covert way companies raise prices by slightly reducing the size of their products. For example, a $2.99 box of pasta that used to contain 16 ounces may only have 14 ounces. There's suddenly less toothpaste in the tube or fewer potato chips in the same bag that you're paying the same price.
President Joe Biden addressed it during the State of the Union in March. Experts say it's Biden's attempt to show everyday people that he's fighting for them as he struggles to convince the public that the economy has gotten better under his watch.
The Federal Trade Commission and Congress are trying to making this practice illegal, giving individual states the power to bring legal action against companies that continue to use shrinkflation.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
The Shrinkflation Prevention Act would allow the FTC or a state’s attorney general to bring civil actions against any corporation engaging in shrinkflation.
But what can we do right now to ensure we’re not getting duped? Here are some tips on certain items from the blog Rather Be Shopping.
- Ice cream: When buying ice cream, grab ones produced by local creameries. Many of them still pack their products in half-gallon cartons with a price point lower than the big brand names.
- Orange juice: When picking your juice, look at the price-per-ounce on the price sticker.
- Cereal: Much like juice, use the price-per-ounce hack to pick your cereal. However, sometimes going for the "family size" box or something from a warehouse club like Costco can be a better investment.
- Toilet paper: Consider buying from a club store if you can. Their brands' sheets still measure 4.5 inches by 4 inches, unlike some other big brands that have shrunk to 4.1 inches by 3.7 inches.
WCNC Charlotte's Where's The Money series is all about leveling the playing field in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.