Shrinkflation Squeezes Consumers as Companies Shrink Products and Lift Prices Amid economic Uncertainty

• Companies are reducing product sizes and raising prices amid diminishing consumer purchasing power

• Manufacturers are posting strong sales and profit growth figures, but product volumes are unclear

• Smaller packaging sizes of essential items like tea, shampoo, chips are proliferating in stores

• While some consumers still shop heavily, many are struggling with unaffordable living costs

• Major consumer goods makers like Nestlé, Unilever, Colgate reported brisk sales increases in 2023 though future outlook seen as challenging