In addition to hiking prices and shrinking product sizes, some food companies have also been quietly downgrading ingredients to reduce manufacturing costs.
"Skimpflation is when a manufacturer reformulates its product with cheaper ingredients," American consumer lawyer Edgar Dworsky told CTV News from Boston. "In skimpflation, you are getting less for your money."The information you need to know, sent directly to you: Download the CTV News AppSkimpflation can be difficult to catch because there are no specific laws requiring companies to disclose changes.
Skimpflation is already happening in Canada, according to Sylvain Charlebois, a professor in food distribution and policy at Dalhousie University.