NCL endorses the Shrinkflation Prevention Act
March 13, 2024
Media contact: National Consumers League – Melody Merin, melodym@nclnet.org, 202-207-2831
Washington, DC – Today, the National Consumers League sent a letter to the United States Senate urging action on the Shrinkflation Prevention Act. As American consumers struggled with spiking inflation, companies posted steep profits. One analysis found that corporate greed drove over 50% of consumer price increases in the years following the pandemic. One of the methods businesses have used to extract greater profits has been shrinkflation—selling less product at the same price. The Shrinkflation Prevention Act would officially designate this as an unfair or deceptive practice.
“Multiple surveys have found that consumers are unhappy with this practice,” said NCL CEO Sally Greenberg. “Almost four out of five Americans say they feel cheated by shrinkflation. Despite this sentiment, sellers continue to take advantage of the public and participate in this trend.”
The full letter can be found here.
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About the National Consumers League (NCL)
The National Consumers League, founded in 1899, is America’s pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit nclnet.org.
