Dear John,

For nearly a year, inflation has been subsiding. But you wouldn’t know it by a trip to the grocery store, where prices stay high, and we are constantly subjected to “shrinkflation.”

Shrinkflation: that magical sleight of hand by which a corporation makes several ounces or servings disappear from a package that is sold at the same price as before.

At the same time, runaway corporate profits are increasing far faster than inflation. Between July 2020 and July 2022, inflation increased by 14%. During the same time period, on the other hand, corporate profits shot up an extraordinary 74%.

It’s clear the corporations are gaming the system, using inflation as an excuse to raise prices even higher than necessary – and to keep them high even as production costs come back down. This is what Senator Elizabeth Warren refers to as “greedflation” in her Price Gouging Prevention Act, which we have discussed before.

Now Senator Warren is addressing this cousin to “greedflation” in her Shrinkflation Prevention Act, cosponsored by Senator Bob Casey and Reps. Chris Deluzio and Marie Gluesenkamp Perez. Their new bill calls on the Federal Trade Commission to prohibit shrinkflation as a deceptive practice, subject to civil action by the FTC and states’ Attorneys General.

Send a direct message to your senators and representative to support the Shrinkflation Prevention Act now! Click here to send a pre-written letter, or you can personalize it to make it your own.

Literally hundreds of examples have been called out on social media and elsewhere, ranging from chocolate bars to bread and cereals, meat, sugar, potato chips, and President Biden’s favorite: chocolate chip ice cream.

“I’ve had enough of what they call shrinkflation. It’s a rip-off. Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won’t notice. Give me a break. The American public is tired of being played for suckers.” - President Joe Biden

Examples of shrinkflation can be found in every grocery aisle. Paper towels and toilet paper now cost 35% more than they did five years ago, but 10% of the increase is due to less product in each package.

18.1 oz. of Cocoa Puffs costs what 19.3 oz. used to cost; Cinnamon Toast Crunch is down from 19.3 to 18.8 oz; and chip packages are down a half ounce, including Doritos, Lay’s, Ruffles, and Tostitos. At least these examples are clearly marked.

Betty Crocker, on the other hand, reduced their Super Moist Cake Mix from 16.25 to 14.25 oz, but deceptively, they kept the added milk and eggs ingredients the same so cooks would not notice. This affected the mouthfeel and flavor of the resulting cakes, leading to customer complaints.

And when Chicken of the Sea, StarKist, and Bumble Bee all reduced their tuna packages from 6.5 to 5 oz, they were found guilty of price fixing, resulting in fines and fired executives.

I don’t know about you, but I’ve had enough of, as President Biden put it, being “played for a sucker.” Let’s tell Congress to pass the Shrinkflation Prevention Act now!

Thank you for helping keep our chip bags full of chips and our double-stuffed Oreos double-stuffed!

Robert Reich
Inequality Media Civic Action