"White House Responds to Biden's 'Shrinkflation' Strategy"

During his State of the Union address, President Joe Biden criticized "shrinkflation," where companies reduce product sizes while maintaining or increasing prices. This tactic, which affects a small portion of products, allows higher prices to go unnoticed by consumers. The White House has launched a "strike force" on pricing to address this issue, aiming to give more policing power to the Federal Trade Commission and state attorneys general. Critics view this as a form of federal price control, while the administration argues it is necessary to combat corporate greed. The debate has also drawn attention to specific examples, such as Frito-Lay's popular chips, with the company yet to respond to inquiries about their plans regarding product sizes.