Shrinkflation Squeezes Filipino Shoppers as Food Costs Rise
• Companies reducing product sizes while maintaining prices, known as "shrinkflation," hurting consumers • Phenomenon driven by companies unable to fully pass on higher production costs • About 40% of Filipino households uncertain or insecure about having enough food in next 6 months • Food accounts for around 72% of typical household expenses in Philippines • Supermarket group urges government support for local industries to increase affordability of key food items