Skimpflation: When companies swap ingredients to lower costs

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 99%

Business News News

Business Business Latest News,Business Business Headlines

In addition to hiking prices and shrinking product sizes, some food companies have also been quietly downgrading ingredients to reduce manufacturing costs in a process known as 'skimpflation.'

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines