Shrinkflation and Lower Migration: A Double Whammy for Consumers
Shrinkflation and Lower Migration: A Double Whammy for Consumers
Popular Christmas desserts are being shrunk in size amidst rising prices, and Australia's net migration is still far from pre-pandemic levels. The practice of shrinkflation, where manufacturers reduce product sizes to avoid price hikes, is hitting consumers hard. The Albanese government promised to crack down on this practice, but it's still prevalent. Meanwhile, the ANU study shows that Australia is still far from catching up to the expected levels of migration before the pandemic. This double whammy of shrinkflation and lower migration is causing consumers to pay more for less.