"Shrinkflation" is hitting the grocery aisles as companies charge the same amount for less

Ice cream maker Tillamook said in a recent blog post that a sharp rise in the price of berries and other ingredients left it no choice: It would "reduce the carton size from 56oz to 48oz and keep the price the same" rather than shock shoppers with a sharp price hike. 

Welcome to the post-pandemic grocery aisle, where consumers are increasingly paying the same price for less — a phenomenon known as "shrinkflation." It's not a new trick, as the technique often comes into play during periods of rising inflation or economic downturns, experts say.  The coronavirus crisis has placed cost pressures on a number of industries and their products due to a range of factors, such as difficulty hiring workers, trucking shortages and price increases for raw materials. On Thursday, the United Nation's FAO Food Price Index said global food prices jumped in May, marking the biggest month-on-month gain since October 2010 and bringing the index to its highest point since September 2011.