Skimpflation hurts buyers if they don’t know what it is

Kansas City, Mo. – If you think you’re losing your money, you’re not imagining it. But the problem is not just that food prices are rising.

Consumer experts also warn of “shrinkflation” and “skimpflation.”

Shrinkflation is where customers pay more but get less for a box or package of something.

Skimpflation is when companies make changes in materials to lower the cost of producing something.

For example, Consumer world reported that the makers of Smart Balance Margarine went from 64% vegetable oil in their products to 39%. Water is now the most dominant ingredient.

Consumer World also points to General Mills reducing family-size cereal boxes by about one ounce. That’s about one less bowl of cereal in each box.

It’s a different tactic that manufacturers use than just raising the price of a product.

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