President Biden targets shrinkflation

SOURCE dnyuz.com
President Biden targets companies for shrinkflation, accusing them of reducing package sizes without reducing prices, leading to consumer outrage over high grocery prices. He is considering executive actions and legislation to address the issue.

Key Points

  • President Biden accuses companies of using shrinkflation to increase profit margins
  • Senator Bob Casey and progressive allies support Biden's focus on shrinkflation
  • Administration officials consider new measures to address shrinkflation

Pros

  • Addressing consumer concerns over rising grocery prices
  • Bringing attention to the practice of shrinkflation
  • Considering executive actions and legislation to combat the issue

Cons

  • Potential backlash from companies affected by the accusations
  • Criticism from some economists who do not see price gouging as the primary cause of inflation