Business Advice for all UK firms from starting a business to flotation
Shrinkflation - Over 2,500 products reduced in size but price remains the same
My wife has been complaining about it for years so it is nice to know though annoying to have confirmed, that many of our foodstuffs and confectionary have reduced in size while the price remains the same.
The Office of National Statistics has confirmed that " Shrinkflation" has been going on for some years with the prices and weight of over 2,500 products involved from the oddly shaped Toblerone where the gap between the mountain peaks has widened, to Mars bars, Snickers, Maltesers and the humble crisp.
Coffee brands are also subject to shrinkage as are toilet rolls, beer brands and fruit juices. The majority of the shrinkage does occur in food and drink categories however.
Collectively the ONS estimates the effect on inflation to be 1.22%
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Post Date: July 24th, 2017