Shrinkflation, also known as package downsizing, is when products are sold in smaller size or quantity for the same price or more. And when inflation goes up, shrinkflation generally does, too. To wit, Canada’s annual inflation rate jumped to 7.7 per cent in May, the fastest pace of rising consumer prices in nearly four decades, Statistics Canada reported Wednesday. Shrinkflation has been going on for a long time, but in the past perhaps it was limited to certain products, Dewhirst said. Music said one potential good outcome of shrinkflation is less waste, since consumers are bringing home less product.

Source: thestar June 22, 2022 14:36 UTC