Look closely at your favorite snacks. You may not have noticed, but there’s a good chance that your bag of chips isn’t nearly as full as one you bought last year. Your cereal box may have gotten smaller too. And that giant-sized candy bar? It may not be as giant as it once was.
These are all examples of what’s known as shrinkflation. The term is a combination of the words shrink and inflation. Inflation is the increase in the price of goods and services over time. Shrinkflation is different. It’s when a company shrinks the size of its products but charges the same price—or even more.
Shrinkflation is nothing new. In fact, it has been happening for decades. But it’s been in the news a lot lately. Last month, Cookie Monster even took to social media to complain about it.
“Me hate shrinkflation!” he posted. “Me cookies are getting smaller.”
Cookie Monster isn’t alone in being frustrated. After all, many people say shrinkflation is sneaky.
“You’re getting less for the same money, so it’s the same as a price increase,” says Edgar Dworsky. He’s an advocate for consumers who’s been tracking shrinkflation for more than 30 years.
Experts say there are ways to ensure that you’re getting the best deal at the grocery store.