President Joe Biden on Sunday called on snack companies to end shrinkflation, where companies shrink product sizes while holding prices the same, describing the practice as a “rip-off.”
In a video posted to X (formerly Twitter) ahead of Super Bowl IV, Biden said, “Some companies are trying to act quickly by shrinking their products little by little and hoping they don’t get noticed.” ” he said.
“Give it a break. The American people are tired of being played for. I’m calling on companies to stop this. Let’s make sure they do the right thing now.” said.
Biden offered no solutions or policies to address the practice and did not name specific companies, but several brands were shown in the video, including Gatorade, Doritos, Bryers, and Tostitos.
“We appreciate the President’s need to divert attention from the inflation that has persisted during his administration,” Consumer Brands Association President and CEO David Chavern said in a statement.
Chaburn added that the group wants to work with Biden on “real solutions that benefit consumers.”
PepsiCo, whose brands include Gatorade, Doritos and Tostitos, and Unilever, which makes Briar’s ice cream, could not be reached for comment outside of normal business hours. Reuters also could not immediately reach Oreo maker Mondelez and Campbell Soup Co., which owns Goldfish crackers.
In December, Sen. Bob Casey released a report showing the impact of shrinking product sizes on everything from toilet paper to Oreos.
According to the report, household paper products are up 34.9% per unit compared to January 2019, with approximately 10.3% of the increase due to producers reducing roll and package sizes. It pointed out.
Prices for snacks like Oreos and Doritos rose 26.4% over the same period, with contraction accounting for 9.8% of that increase, the report said.
A Reuters/Ipsos poll released last month found that while inflation appears to be slowing, 22% of poll respondents said they are worried about the U.S. as it continues to struggle with inflation and other fallout from the COVID-19 pandemic. The economy continues to be the biggest concern for all citizens. .
Since taking office, Biden has called for lower prices at supermarkets, asked drug companies to lower the cost of insulin and hotel chains to lower fees, and sought to diversify the meat packaging industry as beef prices soared after the pandemic. Ta.
