Overview

• Warren and Dean have sent letters to CEOs of General Mills, Coca-Cola, and PepsiCo, demanding transparency on pricing and tax practices.
• The lawmakers argue that shrinkflation, where product sizes are reduced but prices remain the same, is a form of consumer exploitation.
• Reports indicate significant price increases in household and snack products, with shrinkflation accounting for a notable portion of these hikes.
• Critics within the industry defend the practice as a necessary response to rising costs, offering smaller products to avoid direct price increases.
• The Shrinkflation Prevention Act, proposed by Sen. Bob Casey, aims to regulate and penalize deceptive pricing strategies.