- The practice of cutting product portions while keeping the price the same is called as the ‘Shrinkflation’.
- South Korea has decided to call it an unfair practice subject to penalties.
- Most processed food makers and manufacturers of household supplies will have to display labels for three months if they downsize their products in a way that prompts the unit price to go up.
- It prevents a situation where companies reduce the size, standard, weight or quantity of their products without sufficient notice.
Dig Deeper: Read about creeping, galloping and hyper inflation
