More companies are looking to avoid raising prices to scare off consumers, so they are instead turning to “shrinkflation” — giving consumers less product for the same price or more.
"To help offset those costs, we’re doing a few things — first, we’re working hard to find cost savings within other areas of our business," a Proctor & Gamble spokesperson told FOX Business. "And, where we need to pass on some costs, we’re pairing those price increases with innovation wherever possible to continue to deliver great value for our consumers."
Post Holdings, a consumer packaged goods company, reduced the size of its Cocoa Pebbles cereal box from 20.05 oz to 19.5 oz. At the same time, the price increased from the $3.99 original box to the $4.79 smaller size.
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