White House pushes ‘shrinkflation’ messaging to assign blame to corporations

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CEI’s Ryan Young is cited on the Washington Examiner:

“Shrinkflation is real, but it’s not a partisan issue. Shrinkflation is part of the great COVID inflation,” Ryan Young, senior economist at the libertarian Competitive Enterprise Institute, told the Washington Examiner.

Young said some “corporate-greed bogeyman” isn’t to blame but rather that politicians should face public scrutiny for the higher prices.

Shrinkflation is factored into statistics for inflation, such as the consumer price index.

“If the Biden administration wants to stop shrinkflation, it has to get inflation under control. That means spending less. The Federal Reserve also needs to restrain itself the next time there is a downturn,” Young said. “The economy is in good shape, and Biden’s remarks risk scaring voters into thinking it’s not.”

Read the full article on the Washington Examiner.