“We have to be able to make money to pass it on to the farmers who own the company, so they can stay in business,” Patrick Criteser, Tillamook County Creamery Association, a farmer-owned cooperative in Oregon, told the Post. But it also means, in some cases, that the people who provide the raw materials get paid more. The reason for shrinkflation is that the price of raw materials has increased dramatically and companies are passing the increased cost on to consumers by giving them less product, according to the Washington Post. This phenomenon has been dubbed, “shrinkflation,” which sadly has nothing to do with miniature goats. In some cases, this is less obvious because packages have gotten smaller, so you actually get less for more money. It’s not just me being stingy, though - it turns out that prices on everyday items are going up, and it’s not necessarily a bad thing.Īccording to a report issued in May by the Bureau of Labor Statistics (BLS) the cost of consumer goods has gone up by over 4% since last year. But now that I’m making groceries the usual way again, it seems like prices are still really high. Like a lot of people, I ended up buying my daily necessities in unlikely places at inflated prices. And, in case you forgot already, even buying staple goods like toilet paper got really complicated there for a while. I’m not saying I’m too good for retail therapy I just lost enough income that I couldn’t afford it. For most of the pandemic, I quit shopping entirely.
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