Have you ever noticed that food corporations shrink the size of the products you buy but keep prices the same?
It’s called Shrinkflation – and the CEOs of these companies hope you won’t notice you’re getting less for your money.This is just another way food corporations trick you so their profits remain high.
And while corporate profits climb, your grocery bills do, too. So much so, in fact, that the monthly food cost for a family of four on a “thrifty food plan” (as defined by the USDA) increased 50% from $654 to $976.
Direct the Federal Trade Commission (FTC) to establish shrinkflation as an unfair or deceptive practice; and
Authorize state attorneys general and FTC to bring or pursue civil actions against corporations engaging in shrinkflation.
Shrinkflation is eating into the purchasing power of families nationwide. And as we get ripped off in the grocery aisle, the grocery and agribusiness giants are seeing significant revenue increases.
In the past four years, the cost to feed a family of four increased by 2.5 times the rate of inflation. This means we’re all spending more and more on groceries. Meanwhile, the top four grocery retailers in the U.S. saw revenue increases of up to 36%!
It’s time for Congress to rein in corporate greed and shrinkflation. Families should not struggle to put food on the table as agribusiness and grocery giants are raking in billions! We must fight for a fair food system to ensure healthy and affordable food for everyone.
Food & Water Watch and its affiliated organization, Food & Water Action, are advocacy groups with a common mission to protect our food, water and climate.
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