Why are food prices increasing due to 'shrinkflation'?

Food prices are going up because companies are giving us less food for the same price, it's like getting a smaller snack bag but paying the same amount as before.

Imagine you have your favorite candy bar. It used to be big and full of chocolate, but now it’s smaller and still costs the same. That’s shrinkflation, when things get smaller, but the price stays the same.

Companies are using shrinkflation to save money. Instead of raising prices, they make the packages smaller so you get less food for the same cost. It’s like if your lunchbox had less snacks every day, but still cost the same amount, you’d feel like you’re not getting as much value.

Even though it doesn’t seem like a big change, over time, shrinkflation adds up. If you buy smaller packages each week, you might end up paying more for less food than before. It’s like having to eat fewer bites of your favorite candy, it feels like you're getting less joy from the same price!