President Joe Biden is using the term "shrinkflation" to place some of the blame for higher prices on businesses.
The Washington Examiner noted that Biden's usage of the term also appears to be aimed at Republican criticism of his economic policies.
"While you were Super Bowl shopping, did you notice smaller-than-usual products where the price stays the same?" Biden posted on X on Sunday. "Folks are calling it Shrinkflation and it means companies are giving you less for every dollar you spend. I'm calling on the big consumer brands to put a stop to it."
In an accompanying video, Biden said: "Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won't notice. ... Give me a break. The American public is tired of being played for suckers. I'm calling on companies to put a stop to this. Let's make sure businesses do the right thing now."
Peter Loge, director of the George Washington University School of Media and Public Affairs, told the Examiner that he believes the shift toward focusing on basic grocery store staples, and the changes that shoppers might notice, could be more effective than merely pushing economic positives like low unemployment or strong economic growth.
"The economy is getting better, but people don't experience the economy. They buy groceries," Loge said. "I think what the president is trying to do is to tell voters, 'You know, I'm with you on this. I know how this feels, and I can't change the law, but maybe together, we can call out these companies for trying to take advantage of you.'"
Ryan Young, senior economist at the libertarian Competitive Enterprise Institute, said: "Shrinkflation is real, but it's not a partisan issue. Shrinkflation is part of the great COVID inflation."
Young said that some "corporate-greed bogeyman" isn't to blame, but rather that politicians should face public scrutiny for the higher prices.
White House press secretary Karine Jean-Pierre was asked Monday about Biden's "shrinkflation" messaging.
"We get that prices are still kind of hurting Americans, but what we've seen is that prices have gone down for eggs, for milk, for seafood, and that's important — they are lower where they were a year ago, and we know that's not enough," Jean-Pierre said.
She added that Biden has called on corporations to "pass their savings on to hard-working Americans."
Jeffrey Rodack ✉
Jeffrey Rodack, who has nearly a half century in news as a senior editor and city editor for national and local publications, has covered politics for Newsmax for nearly seven years.
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