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SOCIAL SECURITY RECEPIENTS BATTLE SHRINKFLATION, OR MISSING 2 OF MY DONUTS

 

BATTLING SHRINKFLATION or MISSING 2 OF MY DONUTS

Millions of Americans are struggling to live on Social Security--either a retirement or disability benefit.

These individuals struggle with inflation which requires more and more money to buy less and less goods and services.  

A particular form of inflation that I have noticed cuts into your purchasing power from 2 sides:  the size of the product gets smaller but the price increases.  That is: pay more but get less.

I call this "shrinkflation" or "skimpflation."  It's a sneaky way to increase prices, hoping you won't notice.

There's a store near me that sold a gallon of laundry bleach for $1.00.  But recently, I noticed the price has increased from $1.00 to $1.25--a 25 percent increase.  But that's not all.

The size of the product was also decreased by 25 percent--from 1 gallon to 3 quarts.

So the actual price increase is 50 percent!

Another example:  I buy  an 8-pack carton of granola bars that recently costs $3.19.  Guess what?  On my last purchase, I paid $3.99 AND I found 6 bars inside the carton, not 8.  So, I'm only  getting three-fourths of the produce I used to get....but I pay more for the the smaller portion.  Pay more, get less.

It is happening all over the retail landscape:  shrink the product, raise the price.

Coffee that has always been sold in 1-pound packages now comes in 12 oz. packages.  

Ice cream that was always half a gallon is now 3 quarts.

Donuts that you expect to come one dozen per box now come as 10, not 12.

My favorite restaurant was hesitant to raise prices.  They finally did increase prices a little.  But I noticed smaller and smaller portions of food on my plate.  A piece of cornbread is only half as big as it used to be.  The pinto beans in my little bowl has been dwarfed.  No more big fluffy buscuits:  they are now little and flatter.  I leave hungry.

Skimpflation is all about us.  We pay more, we get less.

While Social Security does offer a Cost of Living (COLA) increase once a year to help offset inflation, it doesn't keep up with increasing prices!  

And skimpflation or shrinkflation doesn't count as a price increase, so it often slips by without notice.

My 10 donuts costs about the same as 12 used to.  That's actually a 17 percent price increase, but it doesn't get counted as inflation because the price didn't go up.  (I'm just short 2 donuts, probably healthier but it still makes me mad.


 

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