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Biden Condemns Snack Makers for Engaging in ‘Shrinkflation Rip-off’ that Affects US Economy

ByEditor

Feb 12, 2024

During a video marking the Super Bowl, President Joe Biden called out food companies for engaging in “shrinkflation,” a tactic in which products are made smaller while maintaining the same price. He accused big consumer brands of using this tactic as a “rip-off” and stated that the American public is tired of being taken advantage of.

The Super Bowl, a highly anticipated event in the United States, attracts a large audience and serves as a prime opportunity for advertisers. The most recent game was won by the Kansas City Chiefs, who secured a last-play comeback against the San Francisco 49ers.

Despite declining to participate in a traditional pre-Super Bowl television interview, Biden released a video that was likely uncomfortable for major food companies such as PepsiCo, Mondelēz, and Unilever. The video showcased products like Gatorade, Breyers ice cream, Tostitos, Doritos, and Oreo cookies, all of which have allegedly undergone shrinkflation.

In the video, Biden highlighted examples such as smaller sports drink bottles and reduced ice cream carton sizes, despite the prices remaining the same. He refrained from directly naming any specific products or companies but targeted the practice of shrinking products while keeping prices constant.

The steep increase in the US consumer price index inflation throughout 2022 was attributed to various factors such as the response to the Covid pandemic, surging global energy prices due to Russia’s invasion of Ukraine, and government spending. While inflation decreased to 3.1% in December, some companies are believed to have responded to rising costs by engaging in shrinkflation and “skimpflation” – changing ingredient quantities to reduce expenses.

By Editor

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