Posted on 02/12/2024 6:09:18 PM PST by nickcarraway
“I’ve had enough of what they call shrinkflation," Biden said. "It's a rip-off.”
President Joe Biden has a message for snack companies: Knock it off with shrinkflation.
On Sunday, just ahead of the Super Bowl, Biden posted on X (formally known as Twitter), sharing a video aimed at snack companies, saying that they are shrinking the size of their products without also reducing costs to consumers. It’s a practice the president bluntly called a “rip-off.”
“When buying snacks for the big game, you might have noticed one thing,” Biden said. “Sports drink bottles are smaller, a bag of chips has fewer chips, but they’re still charging just as much. And as an ice cream lover, what makes me the most angry is that ice cream cartons have actually shrunk in size but not in price.” He succinctly added, “I’ve had enough of what they call shrinkflation. It's a rip-off.”
The Gas Stove Debacle Is Finally Over While Biden didn’t specifically call out any companies by name, brands that were shown on the snack table beside him took note.
"We appreciate that the President has to deflect attention away from inflation that has lingered during his administration," David Chavern, president and CEO of the Consumer Brands Association, shared in a statement with Reuters. According to Chavern, his organization is eager to work with the president and his administration on "real solutions that benefit consumers."
However, a December 2023 report published by Pennsylvania’s Sen. Bob Casey, shows the issue to be much deeper than mere deflection. According to the report, General Mills decreased the size of its “Family Size” offering across multiple products without reducing cost, including reducing the size of its Family Size Cocoa Puffs from 19.3 ounces to 18.1 ounces. It then doubled down by increasing the cost for the lighter product in 2023. The report also called out Frito-Lay, which reduced the size of a bag of Doritos from 9.75 ounces to 9.25 ounces. Though the company noted the change was due to the pandemic, it still posted a 9% increased operating profit between 2021 and 2022.
Other household goods appear to be suffering through shrinkflation, including Charmin Ultra Soft Mega rolls of toilet paper, which decreased from 264 double-ply sheets a roll to 244 sheets, while the company’s other offering, Ultra Soft Super Mega rolls, has decreased from 396 sheets to 366. It’s not alone in the toilet paper shrinkage either, with the report noting Cottonelle’s one-ply mega rolls went from 340 to 312 sheets while its two-ply sheets went from 284 to 268.
“There is no denying that shrinkflation is real and that it is having a measurable impact on family budgets,” the report noted, adding, “but there is still much to learn about the tactic and its full effect on American consumers.”
This may not be the last time the President makes an effort to call out brands for practices like this. In early February, Jared Bernstein, the chair of President Biden's Council of Economic Advisers, shared with Reuters, "Our message is a very clear one that the president has and will continue to lean into, which is, if you're a company whose input prices have come down and you're not passing those savings along to the consumer, he will call you out.”
Since he helped cause this, shouldn't he help take the blame?
lol
Biden is so freaking stupid
His policies drove up the prices of everything, the corporations are simply trying to keep things affordable by making them smaller.
How dare they try to help the people Biden hurt!
If they didn’t do this, imagine the price for the same size item at the beginning of his term and now? Double and more.
I looked up “shrinkflation” in the dictionary and it said “see Bidenflation.”
But Joe has already upped the ante and is calling it “greedflation.”
The dictionary entry for “greedflation” reads: see “superbidenflationexpialidocious.”
LOOK!!! SQUIRREL!!!
It is the way companies do business and I’ve learned that by being involved in the weekly trip to the grocery store for decades.
I doubt Joe Biden has had an experience similar to mine.
President Retard is too mentally incompetent to face charges
“Hair conditioner bottles have 25% less active conditioner! How do I know??? I can smell the difference! It’s a sniff-off!”
In Dr.Strangelove, George C. Scott as Gen. ‘Buck’ Turgidson
said: “Mr.President, we must not allow a mine-shaft gap!
Now, heroically, Joe Biden shouts we must not allow a snack food gap.
Funny if America responds and gives him a 65% approval by the end of this week.
Yeah, I have noticed this for a while, but I probably get out and buy stuff a lot more often than he does. Maybe Lunchbox Joe can propose some federal legislation on this.
As long as Brandon has access to Nancy’s ice cream he’ll be fine.
Chocolate chocolate chip.
Sounds like a clueless regime in search of an issue that they think will resonate with the little people and this is the best they can come up with.
Is his consultant about shrinkflation George Costanza?
Joe’s just now catching up to shrinkflation?
I first noticed that several decades ago. Get with it, Joe! Try to keep up.
“it still posted a 9% increased operating profit between 2021 and 2022.”
“Between 2021 and 2022, the inflation rate in the US was 4.70%, while in 2022 it was 8.00%”
So profit dollars grew at almost the exact same rate as their value declined.
In other words, the company created virtually no new value while *resident bidet debased the currency
A former 6.5 ounce can of tuna is now a can with 4 ounces of tuna. And everyone noticed when rolls of toilet paper got shorter and a half gallon of orange juice is now a 54 ounce jug - but those two things happened long before Biden was president. Oops. Just looked. the 54 ounce jug is now down to 52 ounces. So Biden does get the credit for that.
Coffee is down to about 10 oz. Tuna is now 5 oz instead of 6..When’s the last time he shopped except for ice cream
I don’t know about anyone else, but it takes a lot longer for me to type “X (formally known as Twitter)” than it does to type “Twitter”.
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