Shrinkflation gets bigger! | tutor2u Economics

Shrinkflation occurs when products get smaller without getting any cheaper . According to a new survey from the ONS, shrinkflation has been going on for years across thousands of products.

The BBC reports about shrinkflation here

From toilet rolls to Toblerones the survey finds that 2,529 products have reduced in size over the past five years. I'm old enough to remember when Wagon Wheels were actually the size of Wagon Wheels and when eating a Toblerone took up the best part of a long weekend.

The fall in the value of the pound after the Brexit referendum is cited as a key cause of shrinkflation. Businesses have been reluctant to pass on higher supply costs to consumers through increased prices.

Here are ten examples of products that have got smaller

There are important information issues at stake here - how many consumers understand what is happening? Should the CPI be renamed as the Contrived Prices Index?

Find out more from the ONS website

Shrinkflation and the changing cost of chocolate

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