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ICYMI: Tallahassee Democrat: With 'shrinkflation' Emerging in Florida, Top State Official Offers Money-saving Tips

6/14/2022

For Immediate Release: Tuesday, June 14, 2022
Contact: Office of Communications, Communications@MyFloridaCFO.com, 850.413.2842
 
IN CASE YOU MISSED IT:
Tallahassee Democrat: With 'shrinkflation' Emerging in Florida, Top State Official Offers Money-saving Tips
 
“With 'Shrinkflation' Emerging in Florida, Top State Official Offers Money-saving Tips”
Tallahassee Democrat – Jason Delgado
June 13, 2022
Click here to read the full article.
 
No, it isn't your imagination, or just some silly term. Businesses are actively shrinking packages while maintaining the same sticker prices at many popular grocery stores and restaurants. The strategy, while subtle, is known as "Shrinkflation." And it can cost consumers a fortune without them even realizing it. Chief Financial Officer Jimmy Patronis issued a statement this week, warning Floridians of the emerging trend.
 
"Understandably, companies are doing what they can to keep their doors open as the supply chain remains a disaster and the cost of ingredients for products increase," said Patronis. "This trend, however, is not only bad for business, but it is unfair to consumers."
 
While shrinkflation isn't new, the practice has taken off worldwide. In the U.S., a small box of Kleenex now has 60 tissues; a few months ago, it had 65. And In the U.K., Nestle slimmed down coffee tins from 100 grams to 90 grams.
 

 
The acceleration of shrinkflation is the product of a perfect storm: rising costs, labor issues and transportation woes. Some, including Patronis, lay blame at the feet of President Joe Biden.
 
 
"The bad policies of Washington continue to place an unnecessary burden on Florida families and our businesses," he wrote. "As the nation continues to be impacted by an unsettled economy, I suspect there to be more issues like shrinkflation to appear and that’s why I am urging Floridians to start saving and spending your money wisely to prepare for the long road ahead.”
 

 
Patronis provided consumers with several tips to stave off inflation. Among them, he encouraged shoppers to consider changing brands if needed, and suggested that Floridians capitalize on available reward programs and rebate offers. Checking the unit pricing can also prove useful too, he said.
 
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About CFO Jimmy Patronis
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).