(INTELLIHUB) — Bags of potato chips are getting smaller, and so are the size of toilet paper rolls and the thickness of the paper. The nearly unnoticeable changes are camouflaged by manufacturers as best as possible to conceal what is really happening, which is dramatic hyper-inflation.
Economists warn that the phenomenon called “shrikinflation” is becoming rampant and affecting consumers’ day-to-day lives and routines.
“Consumers check the price every time they buy, but they don’t check the net weight,” says former Massachusetts Assistant Attorney General Edgar Dworsky. “When the price of raw materials, like coffee beans or paper pulp goes up, manufacturers are faced with a choice: Do we raise the price knowing consumers will see it and grumble about it? Or do we give them a little bit less and accomplish the same thing? Often it’s easier to do the latter.”
The bottom line is that consumers are being cheated and are getting less bang for their buck at the checkout.
Prices are so high that some have resorted to eating “human-grade” pet food to sustain their lives.