Biden’s misguided approach to shrinkflation highlights the inflation he has fueled

Joe Biden has encountered a new challenge in the form of smaller packaging for food items.

The White House is addressing the issue known as “shrinkflation,” where companies maintain the same price for a product while reducing the quantity.

This essentially results in charging more for the same product.

If you’re paying the same price but receiving only 14 ounces of Wheat Thins instead of 16, you’re essentially paying more for your whole-wheat crackers.

President Biden criticized shrinkflation in a Super Bowl video showcasing various implicated snacks like Doritos, Tostitos, and Oreos.

He called it a “rip-off” and emphasized that “the American public is tired of being deceived.”

He may revisit this issue in his State of the Union address.

This campaign against shrinkflation can be seen as one of the most economically uninformed and immature presidential endeavors in recent memory.

Shrinkflation is a result of inflation, not a cause.

By disguising higher prices, it somewhat benefits Biden, whose economic performance has been marred by consistently high prices, especially in the food sector.

A company raising prices can either increase the price or decrease the product size.

Biden seems to favor companies increasing sticker prices rather than altering the product size.

If Biden were more logical, he would have shown a bag of Doritos in his Super Bowl video and emphasized the need for a bigger size and price to counter inflation.

Biden’s motive appears to be shifting blame, yet complaining about smaller packages essentially equates to complaining about higher prices.

He might as well highlight the steep cost of beef or the significant price jump in baby food over the past year.

According to a report by The Wall Street Journal, consumers are spending the highest proportion of their disposable income on food since 1991.

The focus on shrinkflation is akin to the corporate-greed argument put forth by Elizabeth Warren and other progressives.

It implies that corporations arbitrarily decided to raise prices for profit during a period of supply-chain disruptions, loose monetary policy, and extravagant federal spending, which are known drivers of inflation.

Even consumer advocate Edgar Dworsky, briefing the White House on shrinkflation, acknowledges that such tactics become more prevalent during times of high inflation.

The reasons behind soaring food prices are not obscure.

The decrease in cattle supply has led to elevated beef prices, while cocoa prices and increased labor costs contribute to the pricey Oreos.

Despite this, The New York Times reports that the White House is contemplating executive measures to combat shrinkflation.

Any attempts to enforce larger sizes for food and drink items would only expose underlying price increases more prominently.

Amidst concerns about food prices, it seems the White House is willing to address even the most trivial matters like the size of Gatorade bottles, reflecting their desperation in the current political climate.

Twitter: @RichLowry