shrinkflation

American  

[shringk-fley-shuhn] / ˌʃrɪŋkˈfleɪ ʃən /

noun

Economics Informal.

1. a decrease over time in quantity or in package size compared to the quantity previously sold at the same price point, resulting in a higher cost per unit for the consumer.

   The price is the same and the box looks the same, but because of shrinkflation, you’ll get ten percent less cereal when you open it up.

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Etymology

Origin of shrinkflation

First recorded in 2015–20; shrink ( def. ) + (in)flation ( def. ); coinage attributed to U.S. entrepreneur and economist Philippa (“Pippa”) Malmgren (born 1962), or U.S. historian Brian Domitrovic (born 1961)

Example Sentences

The effects of "shrinkflation" are also to blame for smaller portions, as firms make smaller portions of a product but keep the price the same in order to fit squeezed customer budgets.

From BBC

Carmakers have opted to charge more for delivery costs, reduce incentives or strip away features that might once have been included, a step Chesbrough likens to "shrinkflation."

From Barron's

Plenty of food manufacturers have been reducing the size of their products, without dropping prices, known as shrinkflation.

From BBC

Meanwhile, several treats have been affected by "shrinkflation" - when products get smaller but the price does not.

From BBC

Despite increasing prices and shrinkflation, Which? money and retail editor Reena Sewraz suggested it was still possible to get good value Easter eggs.

From BBC