Biden calls on snack companies to stop shrinkflation By Reuters

© Reuters. An individual retailers in a grocery store as inflation affected client costs in Manhattan, New York Metropolis, U.S., June 10, 2022. REUTERS/Andrew Kelly/File Picture

WASHINGTON (Reuters) – U.S. President Joe Biden on Sunday referred to as on snack corporations to cease shrinkflation, which is when companies lower product sizes however maintain costs the identical, describing the follow as “a rip-off.”

“Some corporations are attempting to tug a quick one by shrinking the merchandise little by little and hoping you will not discover,” Biden mentioned in a video posted on X, previously referred to as Twitter, forward of Tremendous Bowl LVIII.

“Give me a break. The American public is uninterested in being performed for suckers. I am calling on corporations to place a cease to this. Let’s be certain companies do the precise factor now,” he mentioned.

Biden, who supplied no options or insurance policies to handle the follow, didn’t title any particular corporations however a number of manufacturers have been proven within the video, together with Gatorade, Doritos, Breyers and Tostitos.

Though inflation seems to be slowing, the economic system stays Individuals’ total high concern, cited by 22% of ballot respondents, as they’ve struggled with inflation and different aftershocks of the COVID-19 pandemic, in line with a Reuters/Ipsos ballot launched final month.

Since taking workplace, Biden has made a pitch for decrease grocery store costs, pushed drug makers to decrease insulin prices, resort chains to cut back charges and tried to diversify the meat-packing trade after beef costs skyrocketed within the aftermath of the pandemic.