KOTA KINABALU: The emerging economic phenomenon referred to as shrinkflation is occurring more frequently, often without widespread awareness.
Former Minister of Communications and Multimedia Datuk Seri Dr Salleh Said Keruak explained that shrinkflation occurs when companies reduce the size, quantity, or weight of a product while keeping the price the same.
“Essentially, we pay the same price but receive less product.
“This is what we call ‘shrinkflation’ – and it happens more often than we realize,” he said in his latest Facebook post.
Salleh, who is also the Usukan assemblyman, said that shrinkflation is a subtle way inflation affects consumers.
“We might not notice it right away, but over time, we end up paying more for less value.
“When costs rise, companies protect their profits, but consumers get less product without a significant price increase,” he added.
Therefore, Salleh stressed that it is the responsibility of consumers to check product sizes and compare them with previous versions.
“We should also pay attention to the price per unit rather than just the total price,” he advised.
