Companies again are making headlines for their downsizing of products, known as shrinkflation, to keep up with the record levels of inflation not seen in 50 years.
According to the Daily Mail, across the United States, companies are taking steps to maintain their bottom line amidst surging inflation. From toiletries to popular breakfast cereals and the leading brand of instant coffee, companies such as Charmin, Bounty, and Gatorade are just a few feeling the effects of inflation.
Chief among them, the stalwart of cereal, Honey Bunches of Oats, has seen the volume of its boxes shrink from 14.5 ounces to 12 ounces — a cut of nearly 17 percent or two bowls worth.
Another casualty in the war of inflation emerging this week was instant coffee maker Folgers, which cut its containers from 51 ounces of coffee grounds to 43.5 ounces while still keeping the yield in cups that same at 400.
But Folgers says a new bean-pressing technology has allowed them to keep the yield in cups the same despite the drop in their containers' volume.
"We have employed a new, roasting technology," the company tweeted, "that makes the most out of every bean — resulting in lighter-weight coffee grounds that deliver the same taste you love across the same number of brewed cups."
"Through the use of this new roasting process, we're able to get more coffee flavor from each bean while providing the same amount of coffee servings," they added.
Edgar Dworsky, the editor of ConsumerWorld.org, said that "downsizing comes in waves, and it tends to happen during times of increased inflation."
"Bottom lines," he adds, "are being pinched and there's three basic options: raise the price directly, take a little bit out of the product, or reformulate the product with cheaper ingredients ... Downsizing happens during times of high inflation because companies that make everyday products are also paying more for raw materials, production and delivery costs."
In May, President Joe Biden touted that inflation is his administration's top priority.
"I want every American to know that I'm taking inflation very seriously, and it's my top domestic priority," the president said.
On Sunday, former economist under the Trump administration, Larry Kudlow joked that amidst the early telltale signs that inflation was running away, the Biden administration is now going on an inflation apology tour.
"They are on this inflation forgiveness tour," Kudlow said of the Biden administration. "Janet Yellen did one of these hostage video apologies on CNN ... saying, 'Oh my God. I'm so sorry. I used to love America. Now, I hate America. I used to ignore inflation. Now, I acknowledge, I was completely wrong.'"
So now, Kudlow said, President Joe Biden, "after the jobs report ... wants to be real clear about the root causes of inflation — and then proceeds to blame Vladimir Putin."
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