In a video released during the Super Bowl, US President Joe Biden criticized food companies for “shrinkflation.” He accused these companies of making products smaller while keeping prices the same, which he referred to as a “rip-off.” The public is tired of being deceived, he said.
The video, released on the official presidential account, highlighted examples of products that have been reduced in size without a reduction in price, including Gatorade, Breyers ice-cream, Tostitos and Doritos crisps, and Oreo cookies. These companies were approached for comment regarding Biden’s accusations of “shrinkflation,” but have not yet responded.
Biden did not directly name any products or companies in his video, but his criticism was clear. The Super Bowl is a highly anticipated event in the US and attracts a large audience, making it a prime advertising opportunity for companies. Despite declining a television interview typically conducted with the president before the game, Biden’s video would have made uncomfortable viewing for some of the biggest food companies.
Consumer price inflation in the US surged above 8% in 2022 due to factors such as monetary policy in response to the pandemic, increased global energy prices due to Russia’s invasion of Ukraine, and significant government spending. In response to rising costs, some companies are believed to be reducing product sizes and altering recipes to contain less expensive ingredients