Consumers pay more for less as `shrinkflation´ trend continues - personal care appliances

by:Yovog     2020-06-29
Consumers pay more for less as `shrinkflation´ trend continues  -  personal care appliances
The shrinkage of chocolate bars, cereal boxes, and bread caused so-
According to official data, it is called "contraction flation" in the UK ".
New data from the National Bureau of Statistics (ONS) show that between September 2015 and June 2017, 206 products were scaled down.
Bread and cereal, meat, sugar, jam, syrup, chocolate and other sweets are included.
When the product size changes, the price tends to stay the same, in line with the idea that some products are experiencing a "shrink flation", ONS said.
While the statistics agency says manufacturers blame the fall in size on rising raw material costs, it denies the idea that Brexit is a factor behind the contraction.
Although the British pound slump after the Brexit referendum pushed up corporate costs, the National Bureau of Statistics said that the contraction trend remained "stable" for some time after the referendum ".
Mike Hardy, head of inflation at the National Bureau of Statistics, said: "In the past few years, consumers may have noticed that some companies have reduced the size of the product with the same price, this is often attributed to an increase in operating and material costs.
"Our latest analysis of the topic shows that the size of which product has been reduced.
"Most of the changes have taken place in the food and beverage industry.
Daily staples such as bread and grains are most likely to reduce size, and consumers may also find that some chocolate products are now smaller than before.
"Products in the food and beverage category account for 70% of the reduction in the size recorded by the National Bureau of Statistics. Non-
Food categories with the largest change in size-reduction and increase-are appliances and products for personal care (such as toilet paper, diapers and paper towels) and non-
Durable household items including kitchen roll paper and washing machine-up liquid.
Between September 2015 and June 2017, a total of 206 products were scaled down and 79 products were scaled up.
Bread and grain products have the largest frequency of dimensional variation in both directions.
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