Senator Introduces Bill to Crack Down on 'Shrinkflation' Price Hike Tactic

Sen. Bob Casey introduces bill giving FTC power to crack down on "shrinkflation," when companies reduce product sizes but not prices
Shrinkflation identified in household items like cereal, chips, cleaners; critics say it's deceptive
Casey report finds prices rose faster than inflation in 2021-2022, boosting corporate profits
Companies now facing consumer pushback on price hikes, so turning to shrinkflation
Bill faces uphill battle due to GOP opposition, critics say govt shouldn't control packaging