Zachary Halaschak writes for the Washington Examiner about the Biden administration’s latest economic message.
President Joe Biden has used the term “shrinkflation” in recent days to place some of the culpability for higher prices on businesses and counter Republican criticism of his economic management.
Shrinkflation, a portmanteau of “shrink” and “inflation,” was featured in a recent video ad that Biden’s team released. Biden railed against the practice, which is when companies try to save money without antagonizing customers by reducing the size or quantity of goods without raising the price.
“While you were Super Bowl shopping, did you notice smaller-than-usual products where the price stays the same?” Biden posted on X. “Folks are calling it Shrinkflation and it means companies are giving you less for every dollar you spend. I’m calling on the big consumer brands to put a stop to it.”
“American public is tired of being played for suckers,” Biden said in the video.
Peter Loge, director of the George Washington University School of Media and Public Affairs, told the Washington Examiner that he thinks the shift toward focusing on basic grocery store staples and the changes that people might be noticing while shopping could be more effective than merely touting positives in the macroeconomy, such as low unemployment or strong economic growth.
“The economy is getting better, but people don’t experience the economy. They buy groceries,” Loge said during an interview. “I think what the president is trying to do is to tell voters, ‘You know, I’m with you on this. I know how this feels, and I can’t change the law, but maybe together, we can call out these companies for trying to take advantage of you.’”
The shrinkflation line represents an attempt to acknowledge voter frustrations, Loge said.
“When I’m at the grocery store, I’m not thinking, ‘Well, thank goodness for macroeconomic trends,’” Loge said.
But digging deeper, the president’s latest messaging around inflation took a page out of the playbook of the Left, which has been arguing for years now that the inflationary scourge isn’t caused by government spending but rather is a result of corporate greed.
