The Department of Trade and Industry (DTI) has expressed concern over the practice of “shrinkflation,” where the size or quantity of a product is reduced while the price remains the same.
DTI stated that shrinkflation is a form of price increase, especially when consumers unknowingly purchase products that have been reduced in size but maintain the same price. The agency emphasized the importance of informing consumers by clearly indicating any changes in packaging.
Consumers are encouraged to file complaints if manufacturers change the weight of products without proper disclosure.
The DTI has received requests for price adjustments from 63 out of 217 items, ranging from 25 to 50 centavos. Inflation in the Philippines averaged 6.2 percent from January to November, exceeding the government’s target range of 2 to 4 percent.
The government expects inflation to slow within the target range in the coming year, although geopolitical uncertainties may still impact inflation rates. In January, inflation reached a 14-year peak of 8.7 percent due to surging food and fuel prices.
Source: PhilNews24 | January 5, 2024
