Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Biden calls on snack makers to stop 'shrinkflation' rip-offs. Here's how to spot downsized grocery store products

President Joe Biden took to social media ahead of the Super Bowl on Sunday to take a jab at snack companies that are giving consumers less food for their money.

The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or weight while their prices stay the same or increase — is a "rip off," Biden said.

"Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won't notice," said Biden, who called for the companies to put a stop to the practice.

More from Personal Finance:
'Loud budgeting' is having a moment
Gen Z, millennials want to invest — but many aren't
Americans can't pay an unexpected $1,000 expense

Shrinkflation is showing up in subtle ways as sports drinks get smaller, bags of snacks have fewer chips and ice cream cartons shrink in size, Biden noted.

"The American public is tired of being played for suckers," Biden said.

The downsizing of products is nothing new and has been going on since the 1950s, according to Edgar Dworsky, a consumer lawyer and founder of the website Consumer World, who has spoken out against shrinkflation for decades.

These tactics tend to become more prevalent during times of high inflation, Dworsky said.

As prices on grocery store shelves and elsewhere have shot up, many consumers are more sensitive now to how much they are getting for their money.

Shrinkflation videos have trended on TikTok. Meanwhile, a 2022 Morning Consult poll found 64% of all adults said they are worried about it.

The president is the newest critic in Washington of shrinkflation.

In December, Sen. Bob Casey, D-Pa., spoke out against the practice with the release of a report that detailed its effects.

"This corporate greed is one of the reasons

Read more on cnbc.com