Senate Bill Takes Aim at 'Shrinkflation' Amid High Prices

Senate Democrats introduced a bill called the Shrinkflation Prevention Act to direct the FTC to consider shrinkflation an unfair practice and prohibit companies from engaging in it.

Shrinkflation refers to companies downsizing products while keeping prices the same or raising them. Consumers complain this is happening across groceries and other products.

Companies defend shrinkflation as a way to offer smaller sizes for budget-conscious shoppers, but consumer advocates argue it hides price hikes and boosts corporate profits.

Although shrinkflation impacts certain products, its effect on overall inflation rates is small, per the Bureau of Labor Statistics.

While inflation eased recently, prices remain high and continue causing financial stress for many consumers based on earnings data and expert commentary.