Food manufacturers don’t want to raise prices, so instead they are going with “shrinkflation” where they basically charge you the same price for a product but shrink that product size.
Clarisa Diaz at QZ.com reports:
“Frito-Lay confirmed Doritos shrunk their bags due to pandemic pressures. “Inflation is hitting everyone…we took just a little bit out of the bag so we can give you the same price and you can keep enjoying your chips,” said a representative. Representatives at Proctor & Gamble which makes Crest toothpaste, and at Mondelez—which makes Nabisco Wheat Thins, confirmed reductions in their products’ volumes but did not disclose the reasons why. While Crest 3D White does now sell a 5 oz tube, its 4.1 oz tube shrunk to 3.8 oz. Bounty, according to a representative at Proctor & Gamble, got better as it got smaller since the paper towels are more absorbent than they used to be.
Gatorade—the sports drink brand of PepsiCo—recently replaced its 32 oz size with a 28 oz bottle for the same price. That’s the equivalent of a 14% price increase…
One of the most puzzling reductions is “Family Size” boxes of products. The average size of a US family has been increasing (pdf) according to data from the US Census Bureau. Yet, a box of original Wheat Thins used to be sold in Family Size 16 oz boxes and is now packaged as 14 oz at the same price. That’s a 14% price increase. The reduced fat version of Family Size followed, going from 14.5 oz to 12.5 oz—a 16% price increase.”
Consumer Advocate Edgar Dworsky points out that “most consumers are price conscience, they’ll notice a price increase and manufacturers know that so instead they tend to shrink the package. You almost never see the old and new side-by-side then you’ll notice a difference.