©Reuters. People shop at a supermarket as inflation impacts consumer prices on June 10, 2022 in Manhattan, New York City, USA.REUTERS/Andrew Kelly/File Photo
WASHINGTON (Reuters) – U.S. President Joe Biden on Sunday called on snack companies to end shrinkflation, where companies reduce the size of their products while keeping prices the same, describing it as a “rip-off”.
In a video posted to X (formerly Twitter) ahead of Super Bowl IV, Biden said, “Some companies are trying to act quickly by shrinking their products little by little and hoping they don't get noticed.'' ” he said.
“Stop it. The American people are tired of being played for. I'm calling on companies to stop this. Let's make sure they do the right thing now,” he said. .
Biden offered no solutions or policies to address the practice and did not name specific companies, but several brands were shown in the video, including Gatorade, Doritos, Bryers, and Tostitos.
In December, Sen. Bob Casey, chairman of the Senate Health, Education, Labor, and Pensions (HELP) Subcommittee on Children and Families, published a report showing the impact of small products on everything from toilet paper to Oreos. published a book.
According to the report, household paper products are up 34.9% per unit compared to January 2019, with approximately 10.3% of the increase due to producers reducing roll and package sizes. It pointed out.
Prices for snacks like Oreos and Doritos rose 26.4% over the same period, with contraction accounting for 9.8% of that increase, the report said.
A Reuters/Ipsos poll released last month found that while inflation appears to be slowing, 22% of poll respondents said they are worried about the U.S. as it continues to struggle with inflation and other fallout from the COVID-19 pandemic. The economy continues to be the biggest concern for all citizens. .
Since taking office, Biden has called for lower prices at supermarkets, asked drug companies to lower the cost of insulin and hotel chains to lower fees, and sought to diversify the meat packaging industry as beef prices soared after the pandemic. Ta.
Casey's office said he has written to industry groups representing household consumer products and food and beverage companies seeking answers about pricing strategies, package size practices, and the impact of shrinkflation on customers. announced. It was not immediately clear whether they responded.
