Biden, ahead of Super Bowl, tells snack companies to stop shrinkflation
Before the Super Bowl, President Joe Biden urged snack manufacturers to end 'shrinkflation,' a tactic where companies reduce product sizes but maintain the same pricing, calling it deceptive.
In a social media post, he emphasized that Americans are fed up with being cheated, although he did not suggest specific measures to combat the issue and did not single out any companies.
David Chavern of the Consumer Brands Association responded by suggesting cooperation with the President to find tangible solutions for consumers, implicating the need to address ongoing inflation under Biden's administration.
Major corporations involved, such as PepsiCo and Unilever, were not available for immediate comment. Likewise, outreach to Mondelez and Campbell Soup yielded no immediate response.
Senator Bob Casey highlighted the significance of product downsizing in a report which illustrated considerable price hikes for household items and snacks since January 2019.
He attempted to engage with major industry associations but reported no acknowledgment of price gouging or clarity on pricing policies.
Public concern over the economy, heightened by inflation and repercussions from the COVID-19 crisis, remains high, as evidenced by a recent poll. Biden has consistently advocated for reducing costs in various consumer sectors since assuming office.
David Chavern of the Consumer Brands Association responded by suggesting cooperation with the President to find tangible solutions for consumers, implicating the need to address ongoing inflation under Biden's administration.
Major corporations involved, such as PepsiCo and Unilever, were not available for immediate comment. Likewise, outreach to Mondelez and Campbell Soup yielded no immediate response.
Senator Bob Casey highlighted the significance of product downsizing in a report which illustrated considerable price hikes for household items and snacks since January 2019.
He attempted to engage with major industry associations but reported no acknowledgment of price gouging or clarity on pricing policies.
Public concern over the economy, heightened by inflation and repercussions from the COVID-19 crisis, remains high, as evidenced by a recent poll. Biden has consistently advocated for reducing costs in various consumer sectors since assuming office.
